Category Archives: News

Gimv acquires Groupe Tibbloc, leader in rental of ready-to-use temporary energy solutions and related services, from Ciclad

GIMV

Gimv has acquired a majority stake in the Groupe Tibbloc, alongside its management team and founders. The aim of this transaction is to support the Group’s growth in France in all temporary energy solutions, and to accelerate its international development.

Paris (FR) & Antwerp (BE), December, 4th, 2024, 07:30 AM – Founded in 2007 near Nantes, France, Tibbloc (https://www.tibbloc.fr/) has become the French leader in temporary energy rental solutions (heating, cooling, steam, compressed air and dehumidification). Present in France, Belgium, Austria and Germany, with 11 operating platforms, the Group is characterized by its comprehensive range of services, from project design and specification to logistics and installation. The Group serves a diversified customer base, notably in district heating networks, food processing, industry, pharmaceuticals and the service sector.

In a growing market driven by the increasing use of rental offers, the development of urban energy networks and climate change, Tibbloc is recognized for its technical capabilities, operational excellence and the depth of its product range. Its flexible business model combines multi-specialist sales teams, capable of supporting customers in all aspects of their business by proposing tailor-made solutions, with highly specialized technical teams in charge of project execution throughout France and abroad.

Supported by Ciclad since 2020 and under the impetus of Eric Merilhou and Yann Dauce, respectively CEO and COO of the Group, Tibbloc has become a key player in its market. With sales of over €40 million, driven by solid organic growth, the Group now employs around 120 people. It has also made two strategic acquisitions that have enabled it to broaden its offering and geographical coverage, positioning itself as a consolidation platform in a fragmented European market.

Gimv’s investment, alongside Eric Merilhou, Yann Dauce and the management team, will provide Tibbloc with the financial and professional support it needs to accelerate its development, both in France and internationally, while continuing to invest in expanding its equipment fleet and structuring the Group. Tibbloc plans to strengthen its market position by further expanding its range of services to support its clients in their decarbonization efforts.

This investment will place Tibbloc among the top 10 participations in Gimv’s current portfolio.

Eric Merilhou, CEO of Tibbloc, and Yann Dauce, COO, declare: “We are delighted by the arrival of Gimv as shareholder to pursue our ambitious development strategy, enabling us to strengthen our position and continue innovating to offer ever more efficient and sustainable temporary energy solutions. Gimv has demonstrated a keen understanding of our challenges and how to meet them, and their know-how in terms of structuring will help us to support our growth in France and abroad.”

Nicolas de Saint Laon, Head of Gimv France, and François-Xavier Rico, Principal Sustainable Cities, add: “We are delighted to be able to support Eric Merilhou, Yann Dauce and their team in this next chapter for Tibbloc. The management team has achieved a remarkable track record and has succeeded in creating a key player in its market, capable of addressing the critical needs of its customers, with a DNA combining a sense of service, agility and proximity. We are therefore particularly proud to have convinced Eric, Yann and their team of our capability to support them in this ambitious development project, which is perfectly aligned with the investment strategy of our Sustainable Cities sector platform.”

Eric Bruguière, Partner, and Edouard de Kermadec, Investment Director at Ciclad, declare: “With founders Gilles Bertrand and Mickaël Hamon, whom we met in 2020, we recruited Éric, then Yann, while opening up the capital to all the company’s employees. After a smooth managerial transition, the company continued to expand, diversifying its activities, particularly in compressed air and dehumidification, while consolidating its positions in France and beyond, boosted by a particularly strong energy market. We are delighted with this transaction led by Gimv, which succeeded in uniting all shareholders in a highly competitive sale process. We wish Tibbloc, its team and its new partners all the success they deserve. With numerous development opportunities on the horizon, the group is now ideally structured to meet these challenges successfully.”

No further financial details will be disclosed.

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VIVEbiotech Secures Growth Investment from Ampersand Capital Partners to Expand Lentiviral Vector Development and Manufacturing Capabilities

Ampersand

San Sebastian, Gipuzkoa, Spain, December 4th 2024 /PRNewswire/ — VIVEbiotech, a leading lentiviral vector Contract Development and Manufacturing Organization (CDMO), today announced a growth equity investment from Ampersand Capital Partners (“Ampersand”), a private equity firm specializing in the life sciences and healthcare sectors. The partnership with Ampersand will enable the expansion of VIVEbiotech’s lentiviral vector manufacturing In San Sebatian, Gipuzkoa, Spain and support the execution of a robust pipeline of customer projects for innovators developing groundbreaking in vivo and ex vivo cell and gene therapies.

VIVEbiotech provides process development, manufacturing and analytical testing for leading biopharmaceutical companies engaged in gene therapy and cell therapy projects. With a specific focus on lentiviral vector production, the Company operates a state-of-the-art, 3,000 sq. m. (32,000 sq. ft.) GMP-compliant facility in San Sebastián, Gipuzkoa, Spain. VIVEbiotech has a proprietary platform for custom lentiviral vector development and manufacturing, and their highly educated and skilled team of over 140 employees, with more than 85% holding advanced degrees, ensures top-tier expertise and compliance with international standards.

Jon Alberdi, CEO of VIVEbiotech, states: “We are thrilled to welcome Ampersand as a key partner to accelerate VIVEbiotech’s ambitious growth plan while strengthening our flexible, plug-and-play platform. This partnership will play an important role in continuing to exceed our customers’ high expectations. The combination of Ampersand’s industry expertise and VIVE’s robust team will position VIVE as a market leader by expanding our capacity and unique capabilities.”

As part of the transaction, industry veteran Dr. Stefan Beyer has been named Chairman of VIVEBiotech. Dr. Beyer added, “Given the ongoing rapid growth of the cell and gene therapy sector, I am excited to join the VIVEbiotech team. With its state-of-the-art GMP facility, the entire VIVEbiotech team has demonstrated robust capabilities that resonate with the market. Clients are drawn to the team’s scientific expertise, and this strategic investment by Ampersand will enable continued development and growth for VIVEbiotech.” Dr. Beyer has spent his entire career in the pharmaceutical outsourcing industry as an entrepreneur and advisor, previously serving as President, Managing Director, and CEO of Vibalogics, a former Ampersand portfolio company and industry leader of process development, manufacturing, and fill & finish services for biopharmaceutical companies developing oncolytic viral therapies, gene therapies, and vaccines.

Marina Pellon-Consunji, Partner at Ampersand, comments, “We are thrilled to support VIVEbiotech in their mission to advance lentiviral vector development. The team’s scientific expertise and innovative approach make them a key player in the rapidly growing cell and gene therapy industry. Through this investment, we look forward to partnering with Jon and his team to solidify VIVE as a global leader in lentiviral vector for in vivo and ex vivo cell and gene therapy.”

About VIVEbiotech

VIVEbiotech is a Contract Development and Manufacturing Organization (CDMO) specializing in lentiviral vectors for gene and cell therapy. Founded in 2015, VIVEbiotech operates under EMA and FDA standards, serving over 40 biotech companies globally. The company focuses on scalable, high-yield manufacturing processes and cutting-edge technologies. With expertise in both ex vivo and in vivo applications, VIVEbiotech supports the development and commercialization of therapies for cancers and rare diseases. For more information about VIVEbiotech, please visit vivebiotech.com.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

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Blanchon Group, a leading European player in protective and decoration coatings for the home improvement market, accelerates its international growth with the acquisition of Dr Schutz in Germany

IK Partners

Lyon, December 3rd, 2024. Blanchon Group (“Blanchon” or “the Group”) announces the acquisition of Dr Schutz (known under Dr Schutz and Eukula brands), a German family-owned business specialising in the renovation, protection and maintenance of floors, including vinyl, epoxy and wooden floors for commercial and sport segments. For more than 70 years, Dr Schutz has been developing, manufacturing and selling speciality polyurethane systems for heavy renovation of vinyl and epoxy floors as well as flooring care products, dedicated to professional customers.

Supported by IK Partners and Abenex, this acquisition is part of Blanchon Group’s strategy to accelerate international growth and become a European leader in protection, renovation, maintenance and decoration of wood and vinyl flooring and surfaces. With a commercial presence in more than 30 countries and exclusive partners in key regions, Dr Schutz operates from five main sites in Germany, Poland, Switzerland, the UK and USA. These will be added to the well-established Blanchon subsidiaries to broaden the Group’s geographical presence.

This acquisition leverages the complementary combination of the Blanchon and Dr Schutz product lines, their strong brand awareness and their respective client portfolios. It positions Blanchon Group to become the leading floor renovation specialist for professional customers, solidifying its position in the DACH region, the Netherlands and Nordics, amongst others.

The 90 highly skilled employees of Dr Schutz are now joining Blanchon Group’s experienced and multi-functional teams. Dr Karl-Michael Schutz and his top Management remain fully involved in the company and he will take over the overall responsibility for Germany and the vinyl floor renovation business segment.

Guillaume Clément, President and CEO of the Blanchon Group, said: “We are thrilled to welcome Dr Schutz into the Blanchon family. This acquisition is a significant milestone in the Group’s almost 200-year history. Through this acquisition, Germany, the largest flooring market in Europe, will become one of our most important markets, alongside France. A strong team of professionals led by Dr Karl-Michael Schutz are joining us and will ensure our company’s continued development for years to come. The acquisition of Dr Schutz will enable us to provide our customers with a full product range in the flooring segment, including specialty systems for heavy renovation and a full range of wood and vinyl care products. Step by step, we are building a truly international company dedicated to indoor and outdoor surface care. Dr Schutz is a perfect match”.

Dr Karl-Michael Schutz, co-owner of Dr Schutz stated: “We are very pleased to join Blanchon Group. Our motto ‘We care about floors’ fits perfectly with Blanchon’s ethos and we share the same DNA and values. Benefitting from its strong reputation in Europe, as well as its solid R&D expertise, the Group has an offering that is highly complementary to Dr Schutz’s technical product range and value proposition. Joining forces will ensure strong development, benefitting our employees, customers and partners”.

Contact details:
Blanchon Group: Béatrice Gladel, bgladel@blanchon.com
Dr Schutz: Dr Karl-Michael Schutz, kms@dr-schutz.com

Relevant websites: blanchongroup.com; dr-schutz.com; bigler-lacke.swiss;
rigoverffabriek.nl; ciranova.eu; syntilor.com; ikpartners.com; and abenex.com

About Blanchon

Founded in 1832, Blanchon is a specialist in protective and decorative coatings for wood and vinyl substrates for indoor and outdoor applications. The group services more than 8000 customers globally with its brand ‘Syntilor’ – dedicated to DIY, its brands ‘Blanchon’ and ‘Ciranova’, ‘Rigo’, ‘Carver’ and ‘Bigler’- for professionals, and ‘Blanchon Tech’ and ‘Ciranova Tech’ – for flooring manufacturers. The group is recognized for its high quality and sustainable product offerings, and its local technical expertise to support customers. In 2020, Blanchon Group was the first to launch a completely bio-based wood care product offering for professional and end-consumers. It operates through 9 subsidiaries located in France, Belgium, the Netherlands, Italy, Poland, Switzerland, UK, USA and China and employs ~450 people.

www.blanchongroup.com

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About Dr Schutz

The Dr Schutz company specializes in the flooring care and renovation segment. It provides specialty polyurethane products and services to deeply renovate floors, as well as a full care and maintenance product range for all type of floors under Dr Schutz brand. It has developed a comprehensive wood product range under the brand Eukula for professionals. Created in 1955, the company operates in more than 30 countries through very strong partnerships and 4 main platforms located in Germany, Switzerland, the UK, Poland and the USA. Dr Schutz employs approximately 90 people and its values and culture are driven by product quality, innovation and customer service.

www.dr-schutz.com

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

HG Capital

Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

London, UK – 3 December 2024 – IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services.

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements.

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience.

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.”

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.

###

Media contact:  
IRIS Software Group
news@irisglobal.com

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, Twitter, Instagram and LinkedIn. More information on its award-winning software solutions can be found here.

About Dext 
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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Equistone portfolio company KWC completes focus on core business through sale of OEM division Nokite EcoSmart Water Heating Systems to Franke Group

Equistone

WC Group (“KWC”), a premium manufacturer and systems provider for sanitary room equipment, fittings and water management systems, is selling its Original Equipment Manufacturer (OEM) division to the Swiss Franke Group. The divestment of Nokite EcoSmart Water Heating Systems (Guangdong) Co. (“Nokite”) represents the final step in KWC Group consolidating its strategic focus on its core area of professional sanitary room equipment aimed specifically at (semi-)public facilities and businesses. With the support of the Equistone funds as its majority shareholder, KWC intends to further exploit the significant market potential in this area and fully concentrate on expanding the business.

Funds advised by Equistone Partners Europe acquired a majority stake in KWC Group in April 2021. As part of its new strategic focus, in January 2024 KWC successfully sold its medical division to the Alumbra Group. In summer 2024, KWC’s home division, which produces high-quality bathroom and kitchen fittings for the private sector, was sold to the Italian sanitary specialist Paini.

With around 150 employees, Nokite is a leading manufacturer of high-quality private-label kitchen fittings, delivering from China to clients worldwide, and acts as a high-class OEM supplier. Through the successful sale to Franke Group, Nokite will now be integrated into the business division of a leading international supplier of kitchen equipment, appliances and accessories, which is aimed primarily at private end-customers. In the future, KWC will focus on its professional business, serving (semi-)public institutions such as airports, shopping centres, schools, sports and leisure facilities, as well as hospitals and security facilities. The company operates in multiple locations, including Switzerland, Germany, the UK, Austria, Finland and the Middle East and currently employs around 400 people.

Marten van der Mei, CEO of the KWC Group, and Viktor Bernhardt, CFO, underline the strategic importance of this step: “The sale of the independent OEM division enables us to concentrate our resources and expertise entirely on the successful professional business. This area offers enormous market potential and with innovative solutions and the highest quality, we want to further expand our position as a leading provider for (semi-)public institutions.”

David Zahnd, Partner at Equistone, emphasises: ” With the sale of Nokite, KWC Group has completed its strategic realignment and is now able to focus entirely on driving the profitable growth of its professional sanitary room equipment business.”

Stefan Maser, David Zahnd and Roman E. Hegglin were involved in an advisory capacity on the part of Equistone. Equistone was advised on the transaction by DC Advisory (M&A) and Bär & Karrer (Legal & Tax).

The financial details of the transaction are undisclosed.

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Partners Group agrees to acquire real estate platform Empira Group

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Partners Group

Baar-Zug, Switzerland; 3 December 2024

  • Empira Group has a EUR 14 billion Gross Development Value portfolio of European and US residential property
  • The transaction advances Partners Group’s real estate acquisition strategy of enhancing vertical depth in key sectors
  • The acquisition comes at a pivotal moment for the real estate industry where future performance depends on operational excellence

Partners Group, one of the largest firms in the global private markets industry, has agreed to acquire Empira Group, a premier real estate investment platform. The transaction will enhance Partners Group’s position as a global real estate investor and support its ambitious growth plans as the asset class enters a new paradigm for investing. The acquisition is anticipated to close in H1 2025, subject to customary closing conditions and regulatory approvals; it is not expected to have a material impact on Partners Group’s financial results in 2025.[1]

Founded in 2014 and headquartered in Switzerland, Empira Group is one of the most respected vertically integrated real estate investment managers focused on the residential sector, with a portfolio with a Gross Development Value[2] of around EUR 14 billion. Empira Group’s investment strategies include European residential; US residential; transition-to-green, which involves creating value through sustainability initiatives; and real estate credit. Within its real estate credit segment, Empira Group offers a range of financing solutions, including senior and junior loans, whole-loan and mezzanine financing, preferred equity, and joint venture opportunities. With over 250 employees across 13 global offices, Empira Group leverages its in-house expertise to create value across the real estate life cycle – from sourcing, investment, and development to fund management and property operations. Following the acquisition, Empira Group will continue to operate under its existing brand as part of Partners Group, with the ambition to become a pan-European platform.

The transaction comes at an inflection point for the global real estate industry, as the asset class moves beyond traditional asset management to focus on transformational investing and operational excellence to generate attractive returns for clients. In line with this industry shift, Partners Group has devised a real estate acquisition strategy that seeks to amplify its vertical depth in high-conviction sectors, such as residential and logistics, through select investments in high-performing specialist fund managers and operators.

Empira Group’s investment strategy closely aligns with Partners Group’s focus on the two Giga Themes of New Living and Decarbonization & Sustainability, and in particular the revolutionary shifts in residential demand caused by factors including migration, hybrid working, undersupply of affordable, high-quality rental properties for “Generation Rent”, and increased emphasis on sustainability and energy efficiency. These trends have focused Partners Group around the high-conviction strategies of lifestyle residential, urban living, affordable housing, and transition-to-green, all of which are operationally intensive themes requiring hands-on management. With this transaction, Empira will give Partners Group access to wider and more granular sector coverage, proprietary transactions, and enhanced operating substance through its established capabilities. The terms of the transaction remain undisclosed.

Karim Habra, Global Co-Head Real Estate, Partners Group, says: “This strategic acquisition supports Partners Group’s long-term growth in real estate and brings Empira Group’s operational expertise to our established global investment platform at a pivotal moment for the real estate industry. The significant development and operator skills gained from this acquisition position Partners Group to lead in this evolving landscape, moving beyond traditional ownership strategies to embrace a new era of asset transformation and innovation. We are delighted to welcome Lahcen Knapp and the wider Empira team to Partners Group.”

Lahcen Knapp, Founder and Chairman, Empira Group, states: “Empira Group’s investment focus and entrepreneurial spirit is strongly aligned with that of Partners Group. We believe the combination of our expertise and resources with Partners Group’s powerful private markets platform will enable us to better source, build, and manage residential real estate for a new era. Together, we will find innovative solutions to capitalize on the broad secular growth trends driving the asset class. This acquisition marks a new chapter in Empira’s history, at a time when the industry requires a renewed focus on operational depth.”

Partners Group’s acquisition of Empira Group follows earlier strategic investments in Trinity Investments, a US-based hospitality-focused real estate investor, in April 2024, and Citivale, a UK-based logistics real estate developer and asset manager, in February 2024. Partners Group’s Real Estate business has a global portfolio with a total Gross Asset Value[3] of USD 43 billion and USD 15.9 billion in Assets under Management[4].

[1] Empira will be recognized in Partners Group’s Assets under Management (AuM) numbers and guidance once closing has taken place.

[2] Gross Development Value is a metric showing the estimated market value that a property or development is expected to have once it is completed and either sold or rented out. Gross Development Value must not be mistaken for AuM.

[3] Gross Asset Value is a metric that is used to describe the current market value of all assets held within a real estate portfolio, without deducting debt. Figure as of 30 September 2024.

[4] AuM is an Alternative Performance Metric (APM). A description of the APMs can be found in Partners Group’s Interim Report 2024 (p.22 & 23), available for download at http://www.partnersgroup.com/en/shareholders/reports-presentations/. Figure as of 30 June 2024.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1’800 professionals and approximately USD 150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

About Empira Group

Empira Group is a leading player in alternative investments across Europe and the US, with a portfolio with a Gross Development Value of around EUR 14 billion. It offers institutional investors a vertically integrated platform for participation and financing solutions, and its real estate and capital market specialists have expertise across the entire residential and office real estate value chain. With its headquarters in Zug, Switzerland, and offices in Germany, Luxembourg, the US, the UK, Sweden and Austria, it is well-positioned to serve its clients’ needs globally.

Shareholder relations contact
Philip Sauer
Phone: +41 41 784 66 60
Email: philip.sauer@partnersgroup.com

Media relations contact
Alec Zimmermann
Phone: +41 41 784 69 68
Email: alec.zimmermann@partnersgroup.com

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SWIF Maven Equity Finance invests £500,000 in Q5D Technologies

Maven

A pioneering leader in robotic additive manufacturing, has secured £500,000 through the British Business Bank’s South West Investment Fund.

Maven has invested £500,000 in Q5D Technologies, a pioneering leader in robotic additive manufacturing, through the British Business Bank’s South West Investment Fund. This funding is part of a larger £2 million investment round, which aims to support Q5D’s mission to revolutionise wire laying processes across multiple sectors, including automotive, aerospace, and consumer electronics.

The investment will enhance Q5D’s capacity to scale its innovative 5-axis platform, which automates the complex process of adding wiring and electronics to 3D surfaces. This technology offers a faster, more efficient, and cost-effective alternative to traditional manual processes.

Q5D’s platform has gained interest from major industry players, including several of the world’s largest wiring harness companies and some of the largest and most innovative car makers, demonstrating Q5D’s impressive business model and the growth potential of its patented technology.

The funding will also support the delivery of initial HaaS (Hardware as a Service) contracts and expand Q5D’s Technology Assessment Centre in Portishead, which has become a hub for testing and refining the company’s solutions alongside clients.

With this investment, Q5D is well-positioned to continue its momentum, bringing advanced automation capabilities to markets seeking to reduce costs, improve product quality, and support the transition to smarter, more sustainable manufacturing.

Team web image

“We are really pleased to be partnering with Maven and the South West Investment Fund, their advice and capital are helping us drive the company’s growth. Q5D is already attracting large number customers and growing the support and business development teams is critical.”

Stephen Bennington, CEO of Q5D Technologies

“We are thrilled to support Q5D Technologies as they scale their operations. Their unique approach to additive manufacturing, combined with impressive early traction with major industry players, positions them well for rapid growth. We look forward to working closely with Stephen and the team as they look to meet the increasing demand from global leaders in the automotive and aerospace sectors.”

Melanie Goward, Partner at Maven

“We’re excited to support Q5D as they scale up their operations, bringing their cutting-edge technology to market. The South West Investment Fund helps support and foster innovation across the South West and we look forward to seeing Q5D deliver its pioneering solutions to manufacturing sectors in the region and beyond.”

Lizzy Upton, Senior Investment Manager at British Business Bank

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

SWIF – Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the South West of England. The Fund has also backed sustainable packaging innovator, Kelpi, global wireless solutions provider Blu Wireless, and healthcare buy and build operator, Covestus.

If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >

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Stirling Square portfolio company Sustainable Agro Solutions announces the acquisition of Agroscience business from Kerry Group plc

Stirling Square

Sevilla and Lleida, Spain, 2 December 2024 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that its portfolio company Sustainable Agro Solutions (“SAS”), a leading developer and producer of biostimulants, soil and water improvers, defence activators and specialty plant nutrition solutions for the agricultural sector, has acquired Pevesa Biotech’s Agroscience division (“Pevesa Agroscience”), the plant-based biostimulant and fertilizer producer, from Kerry Group plc, a leading provider of taste and nutrition solutions for the food,beverage and pharmaceutical sectors. Financial terms of the transaction have not been disclosed.

As part of the transaction, SAS will acquire Pevesa Agroscience’s operating assets and intellectual property, and ensure continuity for customers and employees. The transaction will enable the vertical integration of a strategic raw material – amino acids deriving from natural plant sources – and allow SAS to maximize its full potential. Stirling Square will work closely alongside SAS’s leadership team as they continue to deliver their strategy of developing the company into an international market leader in agricultural biosolutions.

Stirling Square acquired a majority stake in SAS in July 2021 and is supporting the company to grow both organically through R&D investments, product development and market expansion, as well as through M&A. In July 2023, SAS acquired Biovert, a leading biosolutions business. The acquisition of Pevesa Agroscience builds on strong momentum in SAS’ strategy, as it progresses a substantial project to expand its facilities in Lleida,Spain, to meet growing customer demand and support the business’ future growth.

‍Eduard Vallverdú, CEO of SAS said: “We have admired Pevesa Agroscience for a long time and are thrilled to announce this investment at an exciting time for our business. This transaction fits very well into SAS’ core business and will enable us to introduce Pevesa Agroscience’s complementary and differentiated technology, intellectual property, and operating assets to SAS. We will integrate into SAS a strategic raw material, allowing us to increase the efficiency, quality, and differentiation of the company’s biostimulants product portfolio. That will support our ambition to become a global leader in the development and production of biosolutions for the agricultural sector. We continue to explore new investment opportunities to supplement our organic growth as we look ahead.”

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KKR and Baupost Purchase 33 Marriott International Hotels in the UK from ADIA

KKR
December 2, 2024

  • Joint venture acquires 33 premium-brand Marriott Hotels & Resorts and Delta Hotels by Marriott
  • Amante Capital, KKR’s dedicated European hospitality platform, will serve as managing partner to the joint venture

London, 2 December 2024 – Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR’s vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott branded hotels.

The portfolio consists of 33 full-service properties branded as Marriott Hotels & Resorts and Delta Hotels by Marriott in London and prime regional cities including Edinburgh, Glasgow, Leeds and Liverpool. The 6,500 key portfolio benefits from recent high-quality refurbishments and features an attractive mix of amenities catering to business and leisure guests, ranging from conference and event venues to golf and recreation.

“Our purchase of this impressive portfolio reflects our conviction in the UK and the opportunity we see to invest behind strong fundamentals and long-term growth in the European hospitality sector,” said Mai-Lan de Marcilly, Managing Director and Head of Transactions France and Hotels at KKR. “With Amante Capital we have built the capabilities to be a scaled acquirer and operator of premium hotels across Europe. This is our second investment with Marriott International in Europe and expands our global relationship as well as making us the largest owner of premium segment Marriott International hotels in EMEA.”

“This venture highlights our continued opportunistic approach to investing in high-quality assets,” said Nick Azrack, Partner, The Baupost Group. “We are excited to collaborate with Amante, KKR and Marriott International on the future of these hotels.”

Amante Capital’s experienced team will manage the portfolio on behalf of the joint venture. Working closely with Marriott International’s UK team, Amante will oversee a program of continued capital investment and provide dedicated services to support the local teams at each property in attracting business and delivering exceptional guest experiences. To own this collection of premium hotels is a milestone acquisition for Amante Capital and its investment partners.

KKR has been a long-term investor in UK real estate, having deployed over US$3.5 billion of capital since 2016 across hospitality, residential, student housing and logistics properties. KKR is making the investment primarily through its value-add and opportunistic European real estate strategy.

DLA Piper, Ropes & Gray and Simpson Thacher Bartlett served as legal advisors to the KKR and Baupost joint venture. KKR Capital Markets and Eastdil Secured arranged financing for the transaction. Hamilton Pyramid served as asset manager, Eastdil Secured as advisor and Burges Salmon as legal counsel to ADIA.

About Amante Capital

Founded in 2022, Amante Capital is dedicated to investing in hotel real estate across Europe. Over the last 25 years, the highly experienced team at Amante has been involved in origination, transactions, asset management, capex deployment and operations of a multitude of single assets and portfolios. Amante have an investor mindset, unlocking significant value for its partners through its entrepreneurial spirit and hands-on approach. Amante aims to establish a large-scale pan-European hotel investment and operational platform over the next few years.

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 KKRs 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 Baupost

The Baupost Group is a Boston-based investment manager with a long-term, value-oriented approach. Since 1982, the firm has been thoughtfully stewarding and compounding capital on behalf of families, foundations, endowments, and other like-minded institutions, as well as employees who collectively are the firm’s largest client. CEO and Portfolio Manager Seth Klarman has overseen Baupost’s investments from the company’s inception.

Employing its value-focused discipline, Baupost has been successfully investing in real estate for more than 30 years.  Working both independently and through joint ventures, the firm has deep experience in public and private real estate markets, in equity and credit positions, and across geographies and property types.  Baupost’s relationships, flexible capital, and ability to underwrite large, complex situations has made the firm a trusted counterparty on real estate debt and equity transactions.

Media Contacts
KKR
Alastair Elwen / Jack Shelley
FGS Global
+44 20 7251 3801
KKR-LON@fgsglobal.com

The Baupost Group
Diana DeSocio
+1-617-512-6592
DDeSocio@Baupost.com

Julie Kane
+1-617-999-8623
JKane@Baupost.com

 

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EQT and GIC to acquire majority stake in Calisen, a leading independent smart metering company in the UK

EQT and GIC to acquire a majority stake in Calisen

Calisen is a leading independent provider of smart meters and energy transition infrastructure in the UK, whose purpose is to accelerate the development of a cleaner, more efficient and sustainable energy sector

Long-term investment by EQT and GIC to support Calisen’s growth ambitions in the UK smart meter market and abroad, as well as expansion into adjacent sectors

The EQT Active Core Infrastructure fund (“EQT”) and GIC, a leading global investor, are pleased to announce an agreement to jointly acquire a majority stake in Calisen Group (“Calisen” or “the Company”) from funds managed by Global Infrastructure Partners (GIP), a part of BlackRock, the Infrastructure business of Goldman Sachs Alternatives and Mubadala Investment Company. Equitix will remain a minority investor.

Headquartered in Manchester, Calisen is a leading independent owner and manager of essential energy infrastructure assets. The Company is a provider of smart meters, electric vehicle charging, solar and battery, and heat pump installation, meter reading, maintenance and ancillary services, whose purpose is to accelerate the development of a cleaner, more efficient and sustainable energy sector.

Operating under long-term contracts, Calisen has firmly established itself as a provider of choice in the UK thanks to its scale, operational excellence, and strong customer relationships. With an installed base of approximately 16 million meters, it is well-positioned to capitalize on market trends underpinned by the continued energy transition. The roll-out of smart meters is expected to continue to increase due to a supportive regulatory framework towards net zero as well as demand from energy suppliers and customers to support energy efficiency and the balancing of the electricity grid.

EQT and GIC will support Calisen’s long-term prospects by driving the continued rollout of its energy transition-related assets, including smart meters, heat pumps and renewable energy systems, both in the UK and abroad. It will also explore expanding into adjacent sectors, such as smart water metering.

Kunal Koya, Partner in EQT Active Core Infrastructure’s Advisory Team, said: “Calisen is an exciting investment opportunity, combining significant downside protection and cash flow visibility with tangible upside potential. Its critical role in the UK’s energy transition aligns perfectly with EQT’s commitment to investing in essential infrastructure that contributes to a more sustainable future. We look forward to partnering with management and GIC to embark on Calisen’s next phase of growth.”

Ang Eng Seng, Chief Investment Officer, Infrastructure, GIC remarked: “We are pleased to be investing in Calisen, a high-quality business with a strong market position and good sector tailwinds. Through its integrated business model, Calisen owns, installs, reads and maintains the meters throughout their useful life. With its steady cash flows and long-term contracts, we are confident in Calisen’s growth potential as a core infrastructure investment.”

George Kay, Head of Infrastructure, Europe at GIC, commented: “Smart meters have a crucial role to play in the energy transition. Whilst they are installed at the consumer’s home, they create value across the supply chain. Consumers can track their consumption and potentially lower their bills through access to different tariffs, while suppliers and grid operators can save costs. Our investment will support the roll out of meters across the UK and we look forward to working with management, EQT and Equitix to grow the business for the long term.”

Sean Latus, CEO of Calisen, said: “I am delighted to welcome EQT and GIC as new long-term majority owners of the business alongside our continuing investor. Calisen plays an active role in the decarbonisation of the UK economy, a position we intend to strengthen with the support of all of our shareholders. EQT and GIC’s experience in the energy sector will be invaluable as we look to leverage our scale and customer relationships to significantly expand our smart meter portfolio and replicate our success in adjacent areas.”

The transaction is subject to the satisfaction of certain conditions including regulatory approvals.

Contact
EQT Press Office, press@eqtpartners.com
GIC, Samantha Chiene, SamanthaChiene@gic.com.sg

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