Category Archives: News

Electro Rent Sells intellirent

Platinum

Company divests ancillary division focused on power and infrastructure markets

LOS ANGELES (February 19, 2025) – Platinum Equity portfolio company Electro Rent today announced the signing of a definitive agreement to sell its intellirent division to Sandbrook Capital.

intellirent provides electrical test and measurement (“T&M”) equipment primarily serving the power generation and distribution, data center and renewable energy industries.

Electro Rent, which has owned intellirent since 2018, expressed confidence in the company’s continued growth under new ownership.

“The intellirent segment has grown significantly under our ownership and established itself as a leader in the power and electrical testing equipment rental market across a range of testing environments and industries,” said Mike Clark, Chief Executive Officer at Electro Rent.

Clark said he expects a seamless transition.

 

“We believe this sale allows us to unlock the value of intellirent while Electro Rent focuses on further growth and investment in its core business. We will continue working with Mike and the management team to maximize the company’s potential.”

Louis Samson and David Glatt, Platinum Equity

“The business is a non-core North American division that mostly operates independently and primarily serves different customers and end users than Electro Rent’s other business segments,” explained Clark. “It’s well-built to operate as a standalone enterprise led by a dedicated management team under the leadership of Neil McCaw.”

The transaction is expected to close in the first quarter of 2025.

“We believe this sale allows us to unlock the value of intellirent while Electro Rent focuses on further growth and investment in its core business,” said Platinum Equity Co-President Louis Samson and Platinum Equity Managing Director David Glatt in a joint statement. “We will continue working with Mike and the management team to maximize the company’s potential.”

Harris Williams served as financial advisor to Electro Rent and Platinum Equity on the sale of intellirent. Latham & Watkins LLP is serving as legal advisor to Electro Rent and Platinum Equity on the divestiture.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of more than 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions.

About Electro Rent

Electro Rent is a leading global provider of testing and technology solutions that enable its customers to accelerate innovation and optimize investments. Electro Rent offers a single-source solution, including rental, financial solutions, sale of new and used equipment, calibration and asset optimization, serving industry-leading organizations in communications, aerospace and defence, automotive, energy, education and general electronics. The company was founded in 1965. More information is available at www.electrorent.com.

About intellirent

intellirent is the leading provider of medium-to-high-voltage electrical testing equipment rentals, offering industry-leading service and an extensive fleet to support a diverse customer base. By delivering fast, reliable, and technically sophisticated rental solutions, intellirent plays a critical role in power grid modernization, data center expansion, and industrial infrastructure projects. The company’s deep expertise and commitment to customer service have solidified its position as a trusted partner in the specialty rental market.

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Rise Growth Partners Acquires Minority Stake in Grimes & Company to Accelerate Growth and Geographic Expansion

Charlesbank

Partnership aims to strengthen planning structure, expand firmwide expertise and enhance national presence

AUSTIN, TX — February 19th, 2025 – Rise Growth Partners (‘Rise’), the wealth management industry’s first synergistic financial partner for growth-oriented registered investment advisors (RIAs), today announced its second strategic minority investment, backing Grimes & Company, LLC (‘Grimes’). A full-service, family-owned and operated wealth management firm with around $5.7 billion in assets under management (AUM), Grimes serves approximately 3,000 households nationwide and has built a heritage of growth through its thoughtful, high-touch approach to financial planning and investment management. This partnership will help fuel Grimes’ continued momentum, enabling the firm to deliberately expand its geographic presence, further refine its centralized planning process and attract growth-focused advisor teams and firms.

“We’ve always believed that growth should be intentional, and this partnership is the next step in executing on that vision,” said Kevin Grimes, CEO and Chief Investment Officer at Grimes. “The Rise team immediately understood the scalability of our business, the uniqueness of our model and our exciting vision for the future. With their expertise and resources, we’ll be positioned to multiply our impact while maintaining the collaborative culture and relationship-driven client experience that have defined Grimes and its success to date.”

Founded by Timothy (Tim) Grimes and now led by son Kevin Grimes, the eponymous firm has built a reputation for centralized planning and investment strategies that scale without sacrificing personalization. With presence in Massachusetts, Texas, Florida and Nebraska, Grimes has already expanded beyond its New England roots and is now poised to accelerate its footprint in select areas. This trajectory of growth, alongside its dedication to providing independent, client-focused financial planning, has earned the firm recognition among Barron’s Magazine Top 100 Independent Advisors, Barron’s Magazine Top 1,200 Advisors State by State and Financial Advisor Magazine’s Top Independent RIA Firms.

“Grimes has built an incredible business by delivering truly bespoke investment portfolios at scale, something rare in an industry dominated by model-driven approaches,” said Joe Duran, Managing Partner at Rise. “We see a tremendous opportunity to partner with investment-centric firms that value centralized planning and growth while maintaining the flexibility of customized portfolios. Our goal is to help Grimes realize its potential of becoming a lighthouse brand in the industry, expanding its national presence by attracting like-minded teams who share this commitment to excellence.”

Grimes added: “This partnership allows us to build something even more special, enabling us to become a magnet for top talent and remain an industry leader for years to come. For our clients, it means even more resources, expanded expertise and enhanced planning capabilities, all while maintaining the same hands-on approach they value. For our advisors, it means greater access to best-in-class technology, additional investment and planning support and a strategic growth partner that allows them to better serve their clients. We are not sacrificing our independence or culture; we are enhancing it.”

“Great wealth management is not just about numbers—it’s about vision, strategy and an unwavering commitment to clients’ success,” said Terri Kallsen, Managing Partner at Rise. “The Grimes team embodies all three, turning financial goals into lasting legacies.”

Rise, backed by a strategic investment commitment from Charlesbank Capital Partners (‘Charlesbank’), was created to empower growth-oriented RIAs with the resources, expertise and capital they need to accelerate growth without ceding control. Unlike many traditional strategic acquirers, Rise partners with firms that want to scale while preserving their culture, independence and client-first philosophy.

For more information on Rise and its innovative approach to building the next generation of RIAs, visit risegrowth.com. To learn more about Grimes and its acclaimed team of advisors, visit grimesco.com.

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CVC Credit prices Cordatus XXXIV, its first new issue CLO of 2025

CVC Capital Partners

CVC Credit, the €45 billion global credit management business of CVC, has successfully priced Cordatus XXXIV (34), a new €475m (c.$500m) Collateralized Loan Obligation (“CLO”) vehicle and CVC Credit’s first new issue CLO of 2025.

Cordatus XXXIV was oversubscribed and has one of the tightest cost of debt of any new issue European CLO since 2021. The vehicle has a four-and-a-half year reinvestment period and a one-and-a-half year non-call structure with over 60% of assets already sourced. Jefferies served as the lead arranger.

Quotes

We are delighted to have priced our first new European CLO of the year, a move that further consolidates CVC Credit’s position as one of the leading CLO managers in Europe.

Guillaume TarneaudPartner and Head of European Performing Credit at CVC Credit

Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: “We are delighted to have priced our first new European CLO of the year, a move that further consolidates CVC Credit’s position as one of the leading CLO manager in Europe. The transaction was oversubscribed and as a result priced with one of the tightest cost of debt of any new CLO issued in Europe since 2021.”

Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, added: “This is our first new CLO pricing of 2025 following a very active 2024, with 25 transactions taking place across the year. It is essential to continue the momentum from 2024, which was made possible with the combined strengths of our teams in London and New York.”

Categories: News

Reconstruction of Plantagen gains legal force and is thus completed

Ratos

The decision of the courts in Norway and Sweden to approve the reconstruction plans, which were announced on 16 January 2025, have gained legal force in both countries. Accordingly, the reconstruction, which has been ongoing since 22 August 2024, has now been completed. The objective of the reconstruction has been achieved. As a result, Plantagen now has lower costs as well as lower debt and a lower capital requirement.

The objective of the reconstruction was to ensure long-term sustainable and profitable operations, with the necessary conditions in place to meet customer needs, and to build on Plantagen’s market-leading position in Norway and Sweden. This objective has now been achieved, and the measures taken have significantly improved the company’s prospects to ensure greater financial stability through lower costs, lower debt and lower tied-up working capital.

Financial impact on Plantagen
Plantagen has reduced its store network by approximately 30%, which corresponds to the closure of 36 stores with insufficient profitability (14 stores in Norway, 11 stores in Sweden and all 11 stores in Finland). Plantagen has also reduced the number of store employees by 20% and the number of employees in Group functions by 36%, corresponding to a total of 285 FTEs.

The total cost savings from the 2024 cost-saving program and the measures carried out as part of the reconstruction, the rent reductions included, are estimated at approximately SEK 400m annually. The stores with insufficient profitability that have now been closed, reduces all other things being equal, the turnover in 2025 by approximately SEK 500m. Savings and a more compact store network significantly reduce the working capital requirement going forward. Shorter lease terms and a reduction in the number of stores will also reduce Plantagen’s liabilities for future leasing commitments by approximately SEK 1,500m. The composition dividend amounts to a total payment of approximately SEK 260m. Write-down of external debts and realization of composition gains is calculated at approximately SEK 220m and will be reported as an extraordinary income in 2025. A part of the composition dividend will affect liabilities for future leasing commitments.

“We have now laid the foundation for a more financially viable company with stronger operations. I would like to thank Plantagen’s management, all of its employees and its various stakeholders for their contribution to the success of this initiative. In a market dominated by high inflation, which has impacted both cost levels and consumer purchasing power, these measures were necessary. We are now fully focused on the future and Plantagen’s upcoming peak season,” says Jonas Wiström, President and CEO, Ratos.

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

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 15 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (December LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR To Make Further Investment In Enilive

KKR

London, 18th February 2025 – KKR, a leading global investment firm, today announces that KKR has signed an agreement to acquire an additional 5% stake in Enilive from Eni for a consideration of €587.5 million, taking its total holding in Enilive to 30%.

Enilive is Eni’s mobility transformation company, dedicated to biorefining, biomethane production, smart mobility solutions, and providing services to support people on the move. The additional investment follows KKR’s initial acquisition of a 25% stake in Enilive announced in October 2024, and demonstrates KKR’s commitment to the business and its growth potential as a leader in the energy transition, providing progressively decarbonized services and products in support of sustainability-driven mobility.

Marco Fontana, Managing Director in KKR’s European Infrastructure team, said: “Having first signed our investment in Enilive in October last year, this transaction reiterates our confidence in the business’ ability to provide innovative and effective emission-reducing technology solutions, in line with our strategy to support transformative energy projects across Europe. We’re excited to continue working alongside Eni to further establish Enilive as a market leader.”

KKR has been consistently investing in Italy across asset classes since 2005, with a commitment to supporting the country’s economic and social development. In July 2024, KKR announced the closing of its acquisition of Telecom Italia’s fixed-line network and incorporation into FiberCop, creating the most extensive Italian broadband network serving around 16 million households and helping to fast-track the digital transition in Italy.

KKR’s investment in Enilive has been made through its Global Infrastructure Strategy. The firm first established its Global Infrastructure Strategy in 2008 and has since been one of the most active infrastructure investors around the world, currently managing over $77 billion in infrastructure 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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Enilive:

Enilive is Eni’s company dedicated to biorefining, biomethane production, smart mobility solutions including Enjoy car sharing, and the distribution of all energy carriers for mobility, through its more than 5,000 Enilive Stations in Europe.

Enilive aims to provide progressively decarbonized services and products for the energy transition, contributing to Eni’s goal of achieving carbon neutrality by 2050 also through industrial assets that include the Venice and Gela biorefineries, in Italy; the St. Bernard Renewables LLC (50% joint venture with PBF Energy) in Louisiana (United States of America); numerous biogas plants being converted to biomethane production in Italy, as well as new projects in Livorno, in Malaysia and in South Korea, where further biorefineries are under construction. Enilive plans to increase its biorefining capacity to over 5 million tonnes/year by 2030 and enhance its optionality for Sustainable Aviation Fuel (SAF) production up to 2 million tonnes per year.

Media contacts

Alastair Elwen / Jack Shelley

kkr-lon@fgsglobal.com

+44 20 7251 3801

Giovanni Sanfelice Di Monteforte / Cristiano Signorini

giovanni@tancredigroup.com / cristiano@tancredigroup.com

+44 777 585 8152 / +44 795 041 3690

 

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KKR Enters Into Strategic Partnership With Energy Service Provider EGC

KKR

FRANKFURT, Germany–(BUSINESS WIRE)– KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany. The engineering service provider ITG is also part of the group. The founding family and current shareholders will retain a stake in the company and will remain active members of the management team. Former CEO Germany of GETEC Group, Michael Lowak, will join the group as Chairman, contributing his extensive industry expertise to support the management team in this strategic partnership .

With KKR as a strategic partner, EGC aims to become the leading decarbonization partner for the real estate industry and to accelerate its growth. To this end, the company plans to invest more in both organic and inorganic growth.

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. EGC manages a real estate portfolio of approximately 2 million square meters for over 100 clients and operates around 800 central heating units. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group. This engineering expertise combined with a broad energy services portfolio in particular is the foundation for the group’s strong position.

Buildings account for around a third of global CO2 emissions, mainly through space and water heating. The decarbonization of heating systems in buildings is crucial to achieving the EU’s climate targets. EGC supports landlords in developing solutions to meet their decarbonization goals.

Following the successful completion of the transaction, KKR will support the company in introducing a broad-based employee ownership and engagement model. The program will ensure that all employees are involved in shaping EGC’s future and can participate in the company’s future success. KKR developed this model in 2011 and has since successfully implemented it globally in 60 portfolio companies with more than 150,000 non-management employees.

Corinna Pitz and Dirk Pitz, members of EGC’s management, said: “The collaboration with KKR opens up completely new possibilities for us to further expand our strong market position and to develop our group of companies. In KKR, we have found a partner that shares both our strategic goals and our entrepreneurial approach. KKR is not only an established infrastructure investor, but also has a long history of working with family-run companies. We are very much looking forward to this next phase of growth with KKR, which will open up many new opportunities for our group and employees.”

Michael Lowak, future Chairman of EGC, said: “EGC enables landlords to efficiently plan, implement and finance the decarbonization of their properties. The company is thus making a significant contribution to both the real estate industry and the energy transition in Germany. I look forward to bringing my experience and industry knowledge to EGC and working with KKR to further drive the company’s growth.”

Ryan Miller, Managing Director in KKR’s European Infrastructure team, commented: “To advance the energy transition in Germany at the necessary pace, we need creative solutions and long-term capital. We are seeing growing interest in contracting solutions and significant potential in what is still a very fragmented market. Together with the management team, we want to develop EGC into the leading decarbonization partner for the real estate industry and drive forward the energy transition in Germany.”

KKR has extensive expertise in global infrastructure investments, particularly in the energy sector, and is committed to continuing to investing in the future of renewable energy. With approximately USD 77 billion in infrastructure assets under management, including more than USD 21 billion invested in the energy transition, KKR brings a global investment perspective, extensive experience in large-scale infrastructure projects and a proven track record in high-profile transactions in Europe such as Encavis, Vantage Towers, Zenobe, or Greenvolt. In Germany, KKR has invested more than EUR 18 billion of long-term equity in more than 35 companies in various alternative asset classes since the late 1990s, primarily in partnership with founders, family businesses and corporations. The strategic partnership with EGC builds on KKR’s long track record of working with family businesses in Germany.

KKR is funding the investment as part of its Global Climate Strategy, through which KKR is investing at scale in solutions that support the transition to a low-carbon economy.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About EGC

EGC is a second-generation, family-owned and independent energy services provider in Germany. The company covers the entire value chain: from planning and developing concepts for energy and building technology systems, to financing, owning and operating central heating units and electricity supply networks, to energy supply. The company manages a real estate portfolio of over 2 million square meters for over 100 clients and operates around 800 central heating units. Customers of EGC include private and public housing companies, institutional real estate investors such as insurance companies, banks, and investment companies. The group provides services for new constructions and existing buildings, for single properties as well as entire real estate portfolios. With ITG, a team of experienced engineering employees for the planning of energy and building technology systems and facilities is also part of the group.

Learn more about us: www.egc-fm.de

KKR

Thea Homscheid
Mobile: +49 (0) 172 13 99 761
E-Mail: kkr_germany@fgsglobal.com

Emily Lagemann
Mobile: +49 (0) 160 99 27 13 35
E-Mail: kkr_germany@fgsglobal.com

Source: KKR

 

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Flourish Research Announces Strategic Acquisition of Diablo Clinical Research

Clinical Research Facility Expands Flourish Research’s Geographic Footprint and Adds Additional Therapeutic Coverage

APEX, NC, February 18, 2025—Flourish Research (“Flourish” or the “Company”), a leading multi-site clinical trial organization focused primarily on cardiovascular, metabolic, neuroscience, and infectious disease therapeutic areas, today announced the acquisition of Diablo Clinical Research (“Diablo”), a distinguished multi-therapeutic clinical research facility performing phase I-IV clinical trials and medical device studies.

Established in 1995, Diablo has conducted more than 1,000 trials across various therapeutic areas, establishing a strong track record in endocrinology, cardiovascular, and metabolic studies, among others. Diablo is headquartered in Walnut Creek, CA. For more information, visit www.diabloclinical.com.

Reinhold Schulz, Chief Executive Officer of Flourish, said, “For 30 years, Diablo has built its reputation as a premier regional site, delivering high participant diversity, top enrollment-to-target statistics and participant retention. Diablo expands our geographic footprint and adds additional therapeutic area coverage. As a result, we can provide patients with best-in-class service and deliver to our clients accurate and timely data to support new and improved therapies.”

Emily Galdes, Chief Operating Officer of Diablo, added, “The missions of Flourish and Diablo are identical – advancing clinical research to bring life-enhancing therapies to market safely and effectively. By joining Flourish, our experienced principal investigators, management team, and staff can combine expertise that will be of great value to our sponsors and participants.”

Scott Niehaus, Managing Director at Genstar Capital, which acquired Flourish in 2024, commented, “Diablo boasts an impressive client base of sponsor and CRO partners that includes a broad range of leading pharmaceuticals, emerging biotechs and medical device companies. This is an important acquisition for Flourish given Diablo’s reputation and proximity to Silicon Valley, which provides access to expansion into new device trials and start-ups. Diablo is Flourish’s second acquisition under Genstar ownership, and we look forward to continuing to support Reinhold and the Flourish management team to grow rapidly and expand network efforts with customers.”

Fairmount Partners acted as exclusive financial advisor to Diablo.

About Flourish Research

Headquartered in Apex, NC, Flourish’s network of 26 sites and over 150 investigators conducts studies spanning all phases of clinical trial research. The Company is known for deep medical expertise in several therapeutic areas and a reliable, predictable, and timely patient recruitment experience. With best-in-class technology, quality, and operations systems, Flourish is well-positioned to best serve patients and its biopharma sponsor and CRO clients to advance clinical research in an efficient manner. For additional information on Flourish, please visit our website at https://flourishresearch.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, software, and healthcare industries.

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Media Contact:

Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
chris@tofallipr.com

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AE Industrial Establishes Commercial HVAC Services Platform with National Scale through Investment in United Building Solutions

Ae Industrial Partners

Partnership with Total Comfort Solutions expands platform’s footprint into fast-growing Southeast market

BOCA RATON, Fla.–(BUSINESS WIRE)–AE Industrial Partners, LP (“AE Industrial”), a private equity firm specializing in National Security, Aerospace, and Industrial Services, today announced that it has partnered with United Building Solutions (“UBS”), a leading provider of heating, ventilation, and air conditioning (“HVAC”) services in the Northeast U.S., to create a comprehensive platform dedicated to complex HVAC services for commercial buildings. In addition, UBS has joined forces with Total Comfort Solutions, Inc. (“TCS”), one of North Florida’s top commercial HVAC service providers, expanding the platform’s capabilities and geographic reach. The senior leadership teams at both companies will remain in place. Financial terms of the private transactions were not disclosed.

“Commercial customers are increasingly seeking service partners who can deliver holistic solutions, including maintenance, controls, and retrofits for this mission-critical infrastructure. With the incorporation of TCS, we have taken the first steps in establishing UBS as a leading, multi-regional platform committed to addressing that demand,” said Bryan McElwee, Partner at AE Industrial. “We have a long and successful track record of investing and operating industrial services businesses, including previous investments in Altus Fire & Life Safety, BHI, Enercon, and Resolute Industrial. We look forward to leveraging our extensive experience, partnering with the outstanding team at UBS, and continuing to build out the platform.”

The U.S. HVAC market is poised for rapid growth over the next decade, driven by efforts to retrofit buildings with advanced technologies, leveraging tools such as AI and automation. With HVAC systems typically accounting for the largest share of a building’s power consumption, operators are also prioritizing upgrades aimed at enhancing energy efficiency.

“The investment from AE Industrial will provide us with the resources and support we need to strengthen our team and capitalize on the new growth opportunities in the commercial HVAC space,” said David Leathers, CEO of UBS. “In addition, by partnering with TCS, we are uniting with an organization whose skills and capabilities are highly complementary to our own and strategically expanding our footprint into the Southeast, which is one of the fastest growing HVAC markets in the country. In this next phase of our growth, UBS will seek additional partnerships with local market leaders in attractive geographies to bolster our aggressive organic growth strategy and develop UBS into a dominant HVAC service solutions provider.”

“Joining the UBS network will enable us to draw upon their extensive experience in executing complex projects, scale our operations, and position us for sustained growth,” added Tom Williams, President of TCS. “We will be able to provide our customers with new offerings while ensuring they continue to receive the industry-leading service they have come to expect.”

PwC served as financial advisor to AE Industrial and Kirkland & Ellis served as legal advisor. William Blair served as financial advisor to UBS and Loeb & Loeb served as legal advisor. The Palmeri Law Group served as legal advisor to TCS.

About AE Industrial Partners:
AE Industrial Partners is a private investment firm with $5.6 billion of assets under management focused on highly specialized markets including national security, aerospace and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

About United Building Solutions:
United Building Solutions is a leading provider of specialty mechanical solutions and building controls/analytics for critical HVAC and related systems. The company operates through three subsidiaries: Lor-Mar, A&B HVAC Services, and Unitemp MDI, which specialize in delivering solutions for optimizing building systems and operations, increasing energy efficiency, and improving business performance.

About Total Comfort Solutions:
Founded in 1999, Total Comfort Solutions, Inc. is a certified mechanical contractor providing specialized engineering and industrial services solutions for buildings in Northern Florida and Georgia. The company’s technicians work closely with industry-leading manufacturers and have an average of 22 years of experience in engineering, mechanical service, welding, and building automation applications.

Media Contact:
Stanton Public Relations & Marketing
Matt Conroy
mconroy@stantonprm.com
(646) 502-3563

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ITG expands globally with PureRed acquisition, bringing Halo content model to North America

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Bridgepoint

The acquisition of PureRed enables ITG to deliver their AI-enabled, agile content solutions and state-of-the-art Content Marketing Platform globally.

ITG are delighted to announce ITG’s strategic expansion into North America with the acquisition of US-based PureRed, an established provider of omnichannel content and technology for clients including Microsoft, Kroger, and Walgreens.

This expansion builds on ITG’s rapid growth over the last 12 months, which saw their Storyteq marketing technology recognised as a Leader in the Gartner® Magic Quadrant™ for Content Marketing Platforms 2024 and for Digital Asset Management 2025 – the only vendor to be named a Leader in both categories.

ITG also expanded its partnerships with some of the world’s most iconic global brands such as Samsung, Heineken, KFC, Jaguar Land Rover and Comcast. Now under the leadership of their global CEO Andrew Swinand, formerly of Publicis Groupe Creative US and Leo Burnett, they are set to drive major growth in 2025.

“ITG is well known in the UK and Europe for our agile, Halo content approach and AI-enabled Storyteq technology. Expanding our ability to deliver this content solution to more clients across the globe marks an exciting moment for ITG,” said Andrew Swinand, global CEO, ITG. “As a company, PureRed aligned perfectly with our vision for delivering scaled content solutions to leading brands, coupled with promoting a culture of kindness.”

The acquisition of PureRed adds over 500 skilled marketing professionals to ITG’s global team, which now exceeds 2,000 employees, and significantly strengthens our position in the US market.

“A sharp and consistent rise in both digital channels and retail media has seen the global market for Halo content explode in recent years,” Andrew notes. “Brands around the world now need tailored solutions that enable them to deliver personalised, high-quality content at scale – on budget and without compromising speed. Our AI-enabled, agile content model bridges this gap, and expanding our reach into the US with PureRed allows us to truly support our partners on a global scale.”

Brian Cohen, former CEO of PureRed and new US CEO of ITG, shared his excitement: “Over the years, we’ve built a strong portfolio of clients and a reputation for delivering exceptional omnichannel content and industry-changing technology solutions. Joining forces with ITG allows us to scale our impact and bring even greater value to our clients. ITG shares our passion for innovation, creativity, and operational excellence, making this partnership an incredible opportunity for everyone involved.”

“This is about much more than delivering higher volumes of content,” Andrew added. “It’s about unlocking the full potential of AI in marketing, leveraging both technology and creativity to craft the perfect story for every possible user interaction across any channel. With PureRed as part of the ITG family, we’re not just scaling our capabilities – we’re leading the transformation of our industry through a smarter, AI-enabled approach to content.”

ITG is part of Bridgepoint’s portfolio of companies and Emma Watford, Partner at Bridgepoint, said: “Expanding into the US is a significant milestone for ITG, and we are delighted to support the team as they bring their market-leading, AI-enabled content solutions to a global audience. PureRed’s strong capabilities and client relationships make them a perfect fit for ITG, and together, they are well-positioned to drive real innovation in the fast-evolving content marketing space. We look forward to seeing the impact of this partnership as ITG continues to set new standards for agile, data-driven content at scale.”

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Radiant makes acquisition of Seven Bridges

Apiary Capital

Radiant Financial Group, Apiary Capital’s rapidly expanding wealth management consolidator, has acquired Seven Bridges, an independent financial advisor (IFA) headquartered in Newcastle.

 

This strategic acquisition significantly extends Radiant’s presence across Northern England and marks the ninth bolt-on since Apiary’s investment in November 2020. Radiant has grown substantially, both organically and through acquisitions including CBK, the Swansea-based IFA acquired in August 2024. The group now has 143 team members operating out of ten offices across the UK, with assets under advice of £1.8 billion.

 

“We are thrilled to welcome Seven Bridges to the Radiant Financial Group,” said Simon Cogman-Hellier, CEO of Radiant. “Seven Bridges is a successful and well-established firm, and brings a wealth of expertise and talent to our group.”

 

Thomas Alldred, Investment Director at Apiary, added: “We are immensely proud of Radiant’s development and look forward to continuing to support its impressive growth.”

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