Category Archives: News

CapMan Infra invests in heat-as-a-service operator and bioenergy producer ProPellet

Capman

CapMan Infra invests in heat-as-a-service operator and bioenergy producer ProPellet

CapMan Nordic Infrastructure II fund invests in ProPellet, a heat-as-a-service (“HaaS”) operator and bioenergy producer. The company offers property-specific HaaS solutions and operates its own pellet fuel production facilities. CapMan Infra aims to support the company’s growth by financing investments in the HaaS operations and expansion into new customer groups and energy technologies.

CapMan Infra has agreed to acquire a majority stake in the heat-as-a-service and bioenergy company ProPellet Oy. The company’s key personnel will continue as minority owners alongside CapMan Infra.

Founded in 2006, ProPellet is Finland’s leading producer of pellet-based bioenergy and now employs about 25 people. The company provides its customers with property-specific heating plants as a service, with a portfolio of over 120 heating sites across Finland. In addition, the company operates its own pellet fuel production facilities in Ylivieska and Tervola, which utilise side streams from the forestry and sawmill industries. ProPellet’s business has experienced strong growth in recent years, particularly due to the ongoing transition from oil-based heating to biofuels.

“We are very pleased with this investment. ProPellet is a company with considerable growth potential, and our aim is to invest in the development of the heating service business as well as support expansion into new energy technologies,” says Pekko Haaksluoto, Partner at CapMan Infra.

“This transaction greatly enhances our capacity to address our customers’ needs. With additional resources and expertise at our disposal, we will be able to serve our customers even better and continue developing innovative, cutting-edge energy solutions. We believe that CapMan is an excellent partner with whom we can take our heat service business to a new level and promote the green transition in the heating sector,” says Timo Peltokorpi, COO of ProPellet.

The transaction is conditional on approval by the competition authorities and is expected to be completed by the end of 2024.

The CapMan Nordic Infrastructure II fund is an Article 8 fund with a clear sustainability strategy, aiming to create value by accelerating the green transition in its portfolio companies. The fund has already made five investments: two in a growing data centre platform, in solar energy company Skarta Energy, in Napier, a leading provider of transportation infrastructure for the aquaculture industry, and in Haminan Energia’s district heating and electricity network businesses.

CapMan Infra is an active and committed owner, and its activities are based on the operational development and growth of infrastructure companies through additional investments. Based in Helsinki and Stockholm, its team of 14 professionals actively seeks to find the best possible solutions for developing and growing infrastructure together with asset owners, management, personnel and customers.

For more information:

Pekko Haaksluoto, Partner, CapMan Infra, tel. +358 40 584 6031

About CapMan

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

Categories: News

Tags:

Apiary-backed LearnPro acquires Infographics

Apiary-backed LearnPro is pleased to announce the acquisition of Infographics, expanding its suite of virtual reality and e-learning software tailored for the UK emergency services sectors.

Roar acquires Infographics

This acquisition enhances the portfolio through the addition of the market-leading FireWatch, FloSuite and Prevent + Protect products, complementing existing software offerings, including XVR Simulation, pdrPro, and learnPro.

The addition of Infographics underscores LearnPro Group’s status as a leading software provider within the global emergency services and critical infrastructure market, while also addressing the growing demand for risk prevention solutions.

“We are thrilled to welcome Infographics to the LearnPro Group,” stated Costi Karayannis, CEO of LearnPro. “This acquisition strengthens our commitment to the UK Fire sector but also enables us to expand our ecosystem of management tools for the global emergency services and critical infrastructure sectors. We believe that the synergy of our combined capabilities will deliver even greater value to our customers.”

Ed Leeming, Investment Manager at Apiary Capital, added, “We are excited to support Costi and the LearnPro team as they drive their expansion strategy. Infographics aligns perfectly with LearnPro, and together, their combined resources will significantly benefit their user base.”

Categories: News

Tags:

Ardian announces sale of stake in Trados to Abertis

Ardian

Ardian invested in Autopista Trados M-45 in 2011 alongside Abertis, a leading international motorway operator headquartered in Spain.
• Trados operates a stretch of the M45 shadow-toll road in Madrid, which connects the South and South-East of the Spanish capital.
• More than 85,000 vehicles per day use the length of M45 shadow-toll road operated by Trados, an increase of 50% since Ardian’s initial investment.

Ardian, a world-leading private investment house, today announces the sale of its 49% stake in Autopista Trados 45 (“Trados”), to Abertis, a leading international motorway operator headquartered in Spain. Abertis was already the majority shareholder in Trados.

Trados is a holding company which oversees investment in a 14.5km stretch of the M45 Madrid ring-road in Spain. The M45 is managed through a concession agreement with the Autonomous Community of Madrid, which was granted in 2019 and runs until 2029. The concessionaire’s remuneration is determined through a shadow toll mechanism, regulated by an inflation-linked revenue cap.

The stretch of road overseen by Trados connects South and South-East Madrid, areas where urban development and economic growth over the last decade has led to a significantly increased volume of traffic. On average, more than 85,000 vehicles per day use this section of the ring-road, an increase of over 50% since Ardian’s initial investment in 2011.

“We are delighted to have had the opportunity to work with Trados and its management team. We have supported the company for more than 13 years, including by bringing in initiatives to build operational excellence and by working to optimize the capital structure. We wish the Trados and Abertis management teams every success for the asset’s exciting future.” Juan Angoitia Co-Head of Infrastructure Europe, ARDIAN

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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

Press contact

Ardian

Headland

ardian@headlandconsultancy.com

Categories: News

Tags:

Ardian announces sale of stake in LISEA to VINCI Concessions and Meridiam

Ardian

Ardian was a founding partner to LISEA, investing in the company alongside Vinci and Caisse des Dépôts et Consignations at the launch of the tender by Réseaux Ferré de France (now SNCF Réseau) in 2009
• LISEA is the first private company to hold a concession for a high-speed rail line in France
• LISEA has carried 110 million passengers since entering service in 2017, and generated €284 million in revenue in 2023

Ardian, a world-leading private investment house, today announces the sale of its stake in LISEA, the concession holder for the Sud Europe Atlantique High Speed Line (LGV SEA) between Tours and Bordeaux.

LISEA manages the public high-speed rail infrastructure between Tours and Bordeaux, which serves the needs of passengers, customers and the region. The company has contributed to the modernization of France’s rail system and supported the ecological transition, enabling more of France’s rail network to be opened to tender by private operators in future (France’s railways were opened up to competition in 2018. Previously, the SNCF held a monopoly on the French network). LISEA’s concession contract expires in 2061.

Since it entered service in 2017 following five years of construction, the SEA high-speed line has carried more than 110 million passengers and today provides essential connection across the entire Nouvelle Aquitaine region. The service significantly reduces journey times to Paris and provides transport links to European capitals such as London, Brussels and Amsterdam. The Paris-Bordeaux route is the second busiest in France.

Ardian’s Infrastructure team has played a key role in the company’s value creation strategy since 2009. Ardian was actively involved in a €2.2 billion refinancing finalized in 2018, and more recently in an ongoing project to create a maintenance center.

Ardian has also supported LISEA’s efforts to minimize its carbon footprint and the company now expects to be carbon neutral by 2028.

In 2023, LISEA generated revenues of €284 million, a year-on-year increase of 9%. The company is now at a pivotal stage in its development, as it prepares to welcome new operators to the line following the recent opening up of the French rail market to competition.

On 14 November 2024, Ardian and Caisse des Dépôts et Consignations finalized the joint sale of a 26.24% stake in LISEA to Vinci Concessions and Meridiam.

“We are delighted to have had the opportunity to work with LISEA and its management team, having supported the company at every strategic stage of its development so far. Having been involved with LISEA for more than 15 years, we have followed the company’s evolution and supported its long-term development. This marks the end of a significant, €7.7 billion multi-year project, which included commissioning the work, introducing new trains to the line, navigating the Covid-19 pandemic and completing a successful tender to become the first private company to hold a concession for a high-speed line. We are confident in the company’s growth potential and wish the entire LISEA management team and its shareholders every success for its exciting future.” Laurent Fayollas, Member of the Executive Committee, Deputy Head of Iinfrastructure, ARDIAN – HY24 President

Lisea

Victoria.sacx@lisea.fr

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

Prelude raises $8M to fix SMS and mobile onboarding

Seedcamp

Secure and cost-efficient identity verification is essential for business operations across consumer apps, fintech, and other industries. SMS and onboarding play an important role, yet incumbent solutions are prone to spam or added mark-up.

We are excited to partner up with Prelude, a Paris-based startup on a mission to help companies recover control over authentication costs and conversion rates.

Founders Matias Berny and Quentin Le Bras met while working for the consumer app Zenly, where they were in charge of implementing SMS verification. During their tenures, they were deeply entrenched in understanding the issues related to identity verification.

Using a set of unified APIs, Prelude is advancing SMS verification and mobile onboarding infrastructure through better fraud detection, elegant transparency, and increased conversion–all at a better price. The company’s  SOC 2 Type II compliant solution connects with 20+ international and local providers and automatically selects the best route to offer the best conversion to price ratio.

Matias Berny, founder and CEO of Prelude highlights:

“We’re determined to tackle SMS fraud at its core and use our experience to go beyond SMS verification. Onboarding conversion is one of the toughest challenges in driving growth, and that’s the problem we aim to solve for our customers. We’re building new services to help them master user onboarding, trust, and retention.”

In addition to SMS, Prelude supports other messaging services, such as WhatsApp and Viber. Prelude’s customers include consumer apps including BeReal and Locket, and fintech and crypto companies such as Alma, Sunday, and Bitstack. The company has verified the phone numbers for 100 million different user accounts.

Arnaud Lemaire, Sunday’s CTO says:

“Operating across Europe and North America with international customers, we needed a solution that could keep up with our global reach while maintaining competitive prices—our previous provider fell short. With Prelude, we’ve completely transformed our messaging strategy. Now, we send OTPs worldwide effortlessly, with full visibility into deliverability and conversion rates. Plus, their responsive support team is always ready to help, ensuring we stay on track. Prelude has truly helped us elevate our B2C engagement.”

On why we partnered with Prelude, our Venture Partner Devin Hunt comments:

“We are thrilled to support Matias and the entire Prelude team. They are leveraging years of experience building internal solutions to deliver the best verification service across any platform. What may appear to be a simple detail on the surface is, in reality, a highly complex product, both from an operational and security perspective. This not only improves the cost efficiency of message delivery but also enhances the overall security of the applications that rely on it.”

We are excited to be part of Prelude’s journey from Day One and co-lead their $8 million Seed round alongside Singular.

For more information, visit prelude.so.

Categories: News

Tags:

Ardian acquires 9.500sqm value-add office building in prime location in Berlin-Mitte

Ardian

Ardian, a world-leading private investment house, today announced it has signed an agreement to acquire an office building located close to the listed Lützowplatz square between Berlin City-West and Berlin-Mitte, the two most sought-after office submarkets in Berlin. It represents one of the largest office transactions in the value-add segment Berlin in 2024.

The building was comprehensively renovated in 2001 and offers currently c. 9.500sqm of lettable space over 9 stories of which c. 80% is rented. Ardian aims to invest a double digit million Euro sum to fully modernize and carefully densify the project. In course of the refurbishment, Ardian will upgrade the asset’s ESG footprint to meet modern standards, supporting the climate goals of the Paris Climate Agreement. Furthermore, Ardian will add various amenities to the project to increase the attractiveness of the building.

“We are pleased to announce the purchase of this office project as it is testament to a starting comeback of value-add office space transactions in Berlin, a market segment that has been rather quiet in the past three years. At this prime location in Berlin-Mitte, we are planning a comprehensive repositioning with a particular focus on quality and sustainability. We are convinced that these factors – quality, location and sustainability – will remain key drivers of the rental and investment market in the future, and we therefore continue to seize opportunities in office buildings as an asset class.” Nico Rheims, Managing Director Real Estate, Ardian

Ardian was advised in the transaction by Arup, BNP Real Estate, Clifford Chance, KVL and Taxess.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

ECI invests in Insurance Insider to accelerate growth

ECI

ECI are delighted to announce our investment in Insurance Insider, a leading digital platform providing insight and analysis for the world’s top insurers, distributors, service providers and investors. Their service offering helps customers to uncover new business opportunities and protect against risks through its exclusive insights, deep analysis and data solutions.

ECI is partnering with Insurance Insider’s management team to leverage its unparalleled market position and deep expertise in the Property & Casualty (P&C) insurance industry to accelerate its growth strategy.

Insurance Insider was part of Delinian, which owns a portfolio of companies that provide data, insights, accreditation and events in select global markets. Delinian is focused on value creation and realisation across its portfolio through a three-part strategy of Invest, Grow and Divest. Delinian, formerly Euromoney Institutional Investor PLC, was acquired by Epiris in 2022.

A pioneer since 1996, the business has expanded significantly across and beyond the London (re)insurance market to become the leading market intelligence provider in the P&C and specialty (re)insurance markets.

Operating across three main products, it covers the global (re)insurance market that flows through London, the US P&C market and insurance-linked securities.

Insurance Insider has been at the forefront of the insurance industry for nearly 30 years, and we are now at an inflection point. We have found an ideal partner in ECI, who can help us realise our vision and ambition to become the go-to source of intelligence, insights and data to the global P&C industry. I am immensely excited for what is ahead of us and what we can achieve alongside ECI.” 

Mariana Valle

Managing Director, Insurance Insider

We are absolutely delighted to be partnering with Insurance Insider for the next stage of their growth. We have been thoroughly impressed by Mariana and her team, who have built a category market leader that is trusted by its clients to deliver depth of expertise and quality insights in the complex non-standard insurance industry. Insurance Insider’s customer retention demonstrates the value of those insights in a fast-moving sector, and there is a fantastic opportunity for the business to serve more customers and enhance its product offering, both in the UK and the US.”

Toby Fitzherbert

Investment Director, ECI

We are delighted that ECI Partners have recognised the exceptional growth of Insurance Insider, its position at the heart of the P&C insurance industry and its longer-term expansion opportunities. We look forward to watching the business fulfil its potential under new ownership.”

Andrew Pinder

Group CEO, Delinian

The deal is expected to complete before the end of 2024.

Categories: News

Tags:

MB2 Dental Announces Recapitalization Event With New Investor Warburg Pincus, Solidifying Company Growth Milestone

Warburg Pincus logo

CARROLLTON, Texas–(BUSINESS WIRE)–MB2 Dental (“MB2” or the “Company”), the first and largest dental partnership organization (DPO) nationwide, today announced a strategic investment from Warburg Pincus.

Transaction Highlights

  • $525 million investment from one of the world’s leading private equity firms
  • Offers liquidity options to the Company’s doctor partners at a total enterprise value in excess of $3.5 billion
  • Marks MB2 Dental’s third recapitalization in the past seven years, each providing liquidity to all shareholders and affirming the Company’s unique doctor-led partnership model
  • Charlesbank Capital Partners will continue its longstanding partnership with the Company and is excited to support MB2’s next growth phase

Growth

This transformative transaction is a testament to MB2 Dental’s sustained growth and differentiated performance. Since Charlesbank’s initial investment in 2021, MB2 has added over 450 new partnerships, and the Company’s revenue and EBITDA have each grown by more than 30% per year.

The recapitalization reflects Warburg Pincus’ conviction in MB2 Dental’s growth opportunities. The Company continues to revolutionize the dental industry by empowering dentists to retain clinical autonomy while benefiting from a large organization’s operational and financial support. Proceeds from the transaction will directly benefit over 700 doctor partners and accelerate investments in the value-added services that MB2’s doctor partners can leverage to grow their practices and realize substantial value creation.

Dr. Chris Steven Villanueva, Founder and CEO of MB2 Dental, stated, “This is a significant achievement for MB2 Dental and our doctor partners. The ongoing support from Charlesbank, along with another top-tier investor in Warburg Pincus, reinforces our success in establishing a partnership model that meets the needs of our dentists. This new investment will enable our doctors to maintain uncompromising exceptional care and drive our continued success. While this recapitalization is a major milestone, it is just the beginning. MB2 is well-positioned to keep setting new standards for how large dental platforms should perform.”

“Warburg Pincus’ Healthcare and Capital Solutions teams are excited to partner with MB2 on its innovative approach to the dental services industry. MB2’s commitment to empowering dentists and preserving the integrity of patient care, while enabling efficient practice management, makes them an exemplary partner. We look forward to collaborating with MB2’s management and doctor partners to support their continued success,” said Adam Krainson, Managing Director, Warburg Pincus, and José Arredondo, Principal, Warburg Pincus.

The new partnership with Warburg Pincus positions MB2 Dental to continue expanding its network of doctor partners. It provides greater opportunities for dentists to join an organization that fosters independence, collaboration, and growth.

“We have been thoroughly impressed by the substantial growth MB2 has driven since we first partnered with the company in 2021, and today’s announcement underscores the success Dr. Villanueva and his exceptional team have achieved in recent years. We look forward to partnering closely with Warburg Pincus to further enable the company to reach its growth potential, and ultimately support MB2’s network of talented doctor partners providing care to patients across the country,” added Brandon White, Managing Director, Charlesbank.

The Company is excited to further its partnership with existing investors Charlesbank and KKR, as well as with new strategic investor Warburg Pincus. Moelis & Company served as financial advisor to MB2 Dental, and Houlihan Lokey served as financial advisor to Warburg Pincus. Kirkland & Ellis served as legal advisor to the Company, and Wachtell, Lipton, Rosen & Katz served as legal advisor to Warburg Pincus.

About MB2 Dental

Dallas-based MB2 Dental is a first-of-its-kind dental partnership organization (DPO) founded and led by dentist and entrepreneur Dr. Chris Steven Villanueva. The Company empowers dentists to preserve their profession by ensuring clinical autonomy and providing resources and support to its doctor owners. Since its founding in 2007, MB2 has partnered with more than 700 general and specialty dental practices across 43 states. For more information, visit mb2dental.com or connect with the Company on Facebook, LinkedIn and Instagram.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Warburg Pincus funds have invested over $18 billion in more than 180 innovative healthcare companies around the world, including, Summit Health/CityMD, Modernizing Medicine, Ensemble Healthcare Partners, and Bausch + Lomb. The firm also has a successful track record of investing in capital solutions related transactions historically. The Warburg Pincus Capital Solutions Founders Fund, backed by over $4.0 billion in commitments, consists of investments including, DriveCentric, Excelitas, Nord Security, Service Compression, and MIAX.

Warburg Pincus has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. The firm has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

About Charlesbank

Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $22 billion of total assets. Charlesbank focuses on management-led buyouts, growth capital financings, opportunistic credit, and technology investments. The firm seeks to invest in companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

Contacts

MB2 Dental
Lindsey Calamoneri
info@mb2dental.com

Charlesbank Capital Partners
Ryan FitzGibbon / Alexa Ottenstein / Peter Gavaris
Prosek Partners
pro-charlesbank@prosek.com

Warburg Pincus
Kerrie Cohen
Kerrie.cohen@warburgpincus.com

Categories: News

KKR and Dragoneer Complete Acquisition of Instructure

KKR

Investment to support newly private company’s plans for product innovation and worldwide growth

SALT LAKE CITY, Nov. 13, 2024 /PRNewswire/ — Instructure Holdings, Inc. (“Instructure”), a leading learning ecosystem, today announced the close of its acquisition by investment funds managed by KKR, a leading global investment firm, and Dragoneer, a growth-oriented investor, for $23.60 per share in an all-cash transaction valued at an enterprise value of approximately $4.8 billion. With the completion of the transaction, Instructure’s common stock has ceased trading and the company is no longer listed on the New York Stock Exchange.

Instructure is a leading global provider of learning management, education-tech effectiveness and credentialing solutions. The Instructure ecosystem of products enhances the lives and outcomes of students, professional learners and educators. The company has impacted approximately 200 million learners across more than 100 countries and boasts a thriving community of over 1,000 partners. Together with its expansive network of educators, learners and partners, the company is committed to broadening its platform and delivering $1B in revenue by 2028.

“We could not be more excited to begin the next phase of our journey as the mission-critical educational operating system that schools, institutions and companies rely on to improve outcomes for lifelong learners,” said Steve Daly, CEO of Instructure. “Having KKR’s support will help us double down on core markets, scale our global reach at a faster pace and unlock new opportunities as we continue to innovate and enhance Canvas and the Instructure Learning Ecosystem. Together, we expect to build on our position as the education ecosystem that powers learning for a lifetime and turns education into opportunities for all learners globally.”

“Instructure has built a strong reputation as a true leader and partner in the learning community,” said Webster Chua, partner at KKR. “We look forward to working closely with Steve and the team to leverage KKR’s global platform to continue growing and scaling the Instructure ecosystem.”

“Instructure reminds us of those generational vertical software companies with all the key ingredients: strong customer love, mission criticality, and a commitment to product superiority,” said Christian Jensen, Partner at Dragoneer Investment Group. “Together with KKR, we are fully supportive of Instructure’s commitment to having a profound and transformative impact on the global education market.”

ADVISORS

J.P. Morgan Securities LLC acted as the lead financial advisor, Macquarie Capital also acted as a financial advisor to Instructure and Kirkland & Ellis LLP is serving as the legal advisor to Instructure.  Morgan Stanley & Co. LLC, Moelis & Company LLC and UBS Investment Bank acted as financial advisors and Simpson Thacher & Bartlett LLP acted as legal advisor to KKR.

ABOUT INSTRUCTURE

Instructure powers the delivery of education globally and provides learners with the rich credentials they need to create opportunities across their lifetimes. Today, the Instructure ecosystem of products enables educators and institutions to elevate student success, amplify the power of teaching, and inspire everyone to learn together. With our global network of learners, educators, partners and customers, we continue to deliver on our vision to be the platform that powers learning for a lifetime and turns that learning into opportunities. We encourage you to discover more at www.instructure.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.

ABOUT DRAGONEER

Dragoneer Investment Group is a growth-oriented investment firm with over $23 billion under management and a flexible mandate to invest in high-quality businesses in both the public and private markets. For over a decade, Dragoneer has partnered with management teams to grow exceptional companies, characterized by sustainable differentiation and superior economic models. Dragoneer looks to partner with the best businesses globally and has been an investor in companies such as Airbnb, AmWINS, Atlassian, Datadog, Dayforce, Doordash, Duck Creek, Livongo, Nubank, PointClickCare, Procore, ServiceTitan, Slack, Snowflake, Spotify, Square, Tekion, Uber, and others.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. All statements other than statements of historical fact, including statements about the potential benefits of the completed acquisition of Instructure Holdings, Inc. (the “Company”), are forward-looking statements. Forward-looking statements give the Company’s current expectations, estimates and projections about the potential benefits of the transaction, its business and industry, management’s beliefs and certain assumptions made by the Company regarding its financial condition, results of operations, plans, objectives, future performance and business, all of which are subject to change. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to the Company.

Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including: (i) the Company’s ability to implement its business strategy following completion of the acquisition; (ii) ongoing litigation and potential further litigation relating to the acquisition, including the effects of any outcomes related thereto; (iii) risks that disruptions from the acquisition will harm the Company’s business, including current plans and operations; (iv) the effect of the announcement of the completion of the acquisition on the Company’s business relationships, operating results and business generally; (v) the Company’s ability to retain, hire and integrate skilled personnel including the Company’s senior management team and maintain relationships with key business partners and customers, and others with whom it does business, in light of the acquisition; (vi) risks related to diverting management’s attention from the Company’s ongoing business operations; (vii) unexpected costs, charges or expenses resulting from the acquisition; (viii) the impact of adverse general and industry-specific economic and market conditions; (ix) the impact of inflation, rising interest rates, and global conflicts; and (x) risks that the benefits of the acquisition are not realized when and as expected. The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company’s operations in the way the Company expects. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

CONTACT:

Instructure:
JP Schuerman
Corporate Communications
(801) 658-7525
jp.schuerman@instructure.com

KKR:
Julia Kosygina or Lauren McCranie
(212) 750-8300

SOURCE Instructure Holdings, Inc.

 

Download PDF

Categories: News

Tags:

Analysys Mason to acquire Germany-based PE consulting firm Telescope Advisory Partners

Bridgepoint

The transaction enhances Analysys Mason’s global market reach, commercial due diligence competencies and AI capabilities

Telescope Advisory Partners, a Munich and Frankfurt-based transaction support, value creation and innovation strategy consulting boutique specialising in commercial due diligence and strategy support, will join forces with Analysys Mason, the global technology, media and telecoms consultancy.

The transaction is supported by Analysys Mason’s existing investment partner Bridgepoint, which partnered with the company in 2022 via Bridgepoint Development Capital, a lower middle-market fund focused on supporting fast-growing businesses across Europe.

Telescope and Analysys Mason are recognised leaders in the transaction support sector, helping clients to make the best investment decisions at every stage of the deal lifecycle and accelerating value creation across the investment journey. Telescope’s sector experience and focus is on software, IT services and sustainable cities, while Analysys Mason has unparalleled expertise in digital infrastructure such as communication towers and data centres, ICT (information and communication technology) and IoT (Internet of Things).

This combination leverages the strengths of both companies, creating a comprehensive service offering for small, medium and large-cap private equity buy-out and infrastructure investors. The combined entity is set for growth and innovation, particularly in the field of artificial intelligence (AI), where both firms already support clients in navigating AI opportunities, enhancing business valuation and margins, and integrating AI into the investment cycle.

“We are thrilled to join forces with Telescope,” said Bram Moerman, CEO of Analysys Mason. “This acquisition represents a significant step forward in our mission to deliver unparalleled value to our clients and enhances our transaction support delivery capabilities in the DACH region. Our combined expertise in AI and the private equity markets will enable us to offer even more innovative solutions.”

Simon Fischer, co-Managing Partner at Telescope added, “We are looking forward to forming a global transaction and value creation advisory team unique to the private equity and technology sector. The combined resources and skills as well as a common set of values and ways of working will enable us to continue a strong growth trajectory whilst keeping our entrepreneurial spirit.”

Ludwig Preller, co-Managing Partner at Telescope commented, “This deal positions us perfectly to seize new growth opportunities especially in the field of technology advisory. After a decade of successful expansion in Germany and Europe, we are excited to extend our expertise to new markets globally, providing a ‘global local’ precision service focused on global Tech- and IT-Services transactions and to approach new segments of clients together.”

Jeannele M’bembath, Director at Bridgepoint added, “We are very excited to support Analysys Mason’s continued growth as they welcome Telescope into the fold. This partnership represents a powerful blend of expertise – particularly with respect to AI, due diligence and value creation solutions – that will bring even greater value to current and future clients in Europe and beyond.”

The acquisition is expected to be completed by the end of November, subject to customary closing conditions.

Categories: News

Tags: