Category Archives: News

Ardian secures record €3.2bn for sixth-generation Expansion fund

Ardian

Despite challenging fundraising environment, fundraise marked a 60% uptick in fund size compared to its predecessor and 10% above initial hardcap
• Diverse investor base with 120 new investors
• Fund will continue to invest in mission-critical, high-growth SMEs in Europe to create international champions

Ardian, a world-leading private investment house, today announced the successful raise of €3.2 billion for its sixth-generation Expansion Fund, Ardian Expansion Fund VI (AEF VI). The successful close highlights the strong support and confidence of Ardian’s global investor base. Of the 200 limited partners (LPs) participating in the fund, approximately 80 were returning investors from AEF V, contributing nearly half of the capital raised with an average 13% increase in their commitments. At the same time, AEF VI welcomed nearly 120 new investors, including more than 50 first-time Ardian clients, demonstrating the broad appeal and trust in Ardian’s Expansion investment strategy and track record.

Geographically, the fund has attracted a highly diversified group of investors, with LPs from 28 countries across the world, with notable growth in commitments from LPs in MENA, the Americas, Asia, the UK, the Nordics and the Netherlands. Ardian saw an uptick in commitments from pension funds and private wealth investors, with private wealth clients accounting for 25% of the fund’s LP base, compared to 16% for AEF V. This group includes 33 CEOs and members of senior management from previous Ardian Expansion portfolio companies.

Aligned with Expansion’s strategy, AEF VI aims to support high-growth industry leaders through equity investments ranging from €50 million to €300 million, targeting private mid-sized businesses led by committed and visionary entrepreneurs. Already 33% deployed, the fund has completed eight transactions in category-leading companies.

As a pioneer in the concept of sharing value, Ardian distributes a portion of its capital gains to employees of its portfolio companies at exit. To date, 81% of Expansion portfolio companies have benefited from this initiative, with 8,000 employees across 20 exits since AEF III receiving a share of the activity’s capital gains. Under AEF VI, an average of 250 employee shareholders per investment will benefit from this mechanism.

Ardian has also continued to strengthen its Expansion team, with 36 professionals across Paris, Frankfurt, and Milan, including 13 Managing Directors who have worked together for over 15 years, ensuring a strong culture. Their deep connections in local markets and multi-local presence allow them to support portfolio companies with cross-border opportunities, operational growth, and new customer acquisition. In 2024, the Expansion portfolio has demonstrated again an average double digit organic EBITDA growth. The team also has a proven track record of helping mid-sized companies scale through strategic acquisitions, with an average of five build-ups per portfolio company.

Additionally, the team is instrumental in sustainability transformations, with 95% of portfolio companies having conducted carbon footprint assessments by the end of 2024, 55% implementing GHG reduction plans, and all AEF VI sustainability-linked financings including carbon KPIs.

The fundraise announcement follows the recent close of Ardian’s first private equity Continuation Fund for Syclef, a leading European firm specializing in the installation and maintenance of refrigeration and air conditioning systems. Ardian’s Expansion team first invested in Syclef in 2020 and helped it consolidate its market position, including through M&A to expand internationally, and will now support it in its next stage of growth.

“If you build it they will come. Not just an inspirational quote from a great film, but the story of our record fundraise for Expansion. Against a challenging macro context, our swiftly secured fund size is down to the close and trusting relationships we have built with our investors; the strength of our track record and investment strategy; and the operational support we bring, across digital, AI, pricing and talent management, that helps our entrepreneurs grow their businesses.
The other story of this fundraise is the positive proof that Europe does still represent a Field of Dreams when it comes to direct private equity investment opportunities. We’re privileged to support just some of the many midcap companies that have the vision, energy and capability to grow into European and international champions. And the demand shown for our latest fund shows there is global appetite to play a part in that dream.” François Jerphagnon, Member of the Executive Committee, Managing Director of Ardian France and Head of Expansion, Ardian

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 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

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Equistone portfolio company TIMETOACT GROUP acquires beBOLD and further strengthens its position in cloud consulting

Equistone

TIMETOACT GROUP, a leading provider of IT services for upper medium-sized companies, corporations and public institutions, is acquiring beBOLD, an independent consulting boutique for cloud-transformation projects. This acquisition marks TIMETOACT GROUP’s first acquisition of 2025 and eleventh overall since the Equistone funds acquired a majority stake in the business.

TIMETOACT GROUP, headquartered in Cologne, comprises specialised IT companies across 30 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore, Spain, Ukraine, Hungary and the USA. With over 1,350 employees and a comprehensive portfolio of software and consulting services, the digitalisation expert primarily concentrates on medium-sized and large companies from the industrial, financial and service sectors, as well as public institutions.

Funds advised by Equistone Partners Europe acquired a majority stake in the business in June 2021. Since then, TIMETOACT GROUP has successfully pursued a targeted buy-and-build strategy focused on strengthening the group’s service portfolio and accessing new market segments. In December 2024, the group completed the acquisition of Hungarian-based EverIT through its portfolio company catworkx, a transaction that will further strengthen its global Atlassian service portfolio. In the same month, the group also announced the acquisition of German business intelligence specialist JOIN(+) to expand its expertise in Big Data & AI. The integration of beBold now adds another high-growth player to the TIMETOACT GROUP, significantly enriches its group-wide expertise in holistic and independent cloud consulting and marks another important step in its successful expansion strategy.

Hamburg-based beBOLD GmbH is a fast-growing consulting firm specialising in cloud transformation and digital innovation. The company offers independent advice at every stage of its clients’ cloud journey, taking a holistic approach that combines strategic thinking with technical expertise. The two founders and CEOs, Joris Schoor and Marcel Böttcher, will continue to lead the company and, in partnership with the wider consulting portfolio, work to continuously enhance TIMETOACT GROUP’s offering to its customers.

“Our longstanding partnership with TIMETOACT GROUP has been an outstanding success, not only on a professional level but also in terms of culture and human connection, and we are therefore in no doubt that joining the group represents a win-win. This is a huge milestone for us, and in addition to giving us access to expertise and valuable business relationships, it will enrich our company’s services and enable us to serve all areas of the cloud journey from a single source,” said Joris Schoor and Marcel Böttcher, founders and CEOs of beBOLD.

“Acquiring beBOLD significantly strengthens our IT strategy consulting business and, in combination with our wider portfolio, means we can offer our customers comprehensive support on cloud-transformation projects from conception right through to implementation – regardless of whether they want to migrate to the AWS cloud, Azure, Google Cloud or a private cloud,” says Frank Fuchs, co-managing director of the TIMETOACT GROUP.

“The acquisition of beBOLD marks another significant milestone for TIMETOACT GROUP, further consolidating its position as a leading international player in independent cloud and digitalisation consulting. This acquisition is the latest step of an ambitious growth strategy, which focuses primarily on consistently expanding the group’s service portfolio and building long-term partnerships,” comments Moritz Treude, Partner at Equistone Partners Europe’s Munich Office.

Frank Fuchs, Christian Koch and Christian Reifenhäuser are responsible for the transaction on behalf of TIMETOACT GROUP. TIMETOACT GROUP was advised on the transaction by AC CHRISTES & PARTNER (Financial & Tax), de Angelis Rechtsanwälte (Legal) and McDermott Will & Emery Rechtsanwälte Steuerberater (Legal, antitrust law). The beBOLD shareholders were advised on the transaction by GÖRG (Legal) and Mertens Schabow Steuerberatungsgesellschaft Hamburg (Tax).

Categories: News

Four leading audit firms join forces to establish a group focused on audit and advisory. Adelis becomes minority owner to support strategic investments and growth

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Adelis Equity

The group is formed by Crowe Osborne, Frejs Revisorer, RSM Göteborg and Qrev – four reputable audit firms recognized for their long-term customer relationships, highly qualified employees and leading positions within their respective markets. While maintaining their local brands and leadership, the firms will jointly invest in digitalization, quality assurance and employee development. The group aims to become the leading advisor for entrepreneur-led companies and other customers in non-regulated markets in Sweden.

The demand for audit and advisory services is growing rapidly, driven by an increasingly complex regulatory environment and the rising need for tailored and qualified advisory services. At the same time, audit firms increasingly need to invest in key areas such as digitalization and employee development. In order to address these trends, four leading audit firms have formed a group focused exclusively on audit and advisory for customers in non-regulated markets.

The strategic goal is to become the most attractive employer in the audit industry, while delivering the highest levels of customer satisfaction. Emphasizing entrepreneurship and long-term customer relationships, the group will continue to operate under local brands and leadership, while leveraging joint resources to invest in critical areas such as digitalization, quality assurance, employee development and recruitment.

Svante Forsberg, with extensive experience in the audit industry, will assume the role of Chairman. He comments: ”The group will be a unique market player, targeting a segment with significant customer demand. The firms will retain their long-term customer relationships and a strong entrepreneurial culture, while benefitting from being part of a larger group – truly the best of both worlds”.

The group will have combined revenues of SEK c. 400m and more than 200 employees and is well-positioned for growth. Adelis becomes minority owner to support strategic investments and growth through acquisitions of similar audit firms.

”Adelis has followed the audit industry closely over many years and sees an interesting shift in the market with new regulations and a continuing trend towards digitalization, creating attractive opportunities for a group with greater resources. We see significant growth potential and will seek like-minded entrepreneurs to join us on this journey”, say Erik Hallert and Jakob Wedenborn at Adelis Equity Partners

The transaction is expected to close in February 2025, subject to receiving all customary regulatory approvals.

For further information:

Svante Forsberg, Chairman

Phone: +46 733 972 210

E-mail: svante@kungskroka.se

Erik Hallert, Adelis Equity Partners

Phone: +46 709 36 80 41

E-mail: erik.hallert@adelisequity.com

About Adelis Equity Partners

Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 44 platform investments and more than 250 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.

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AnaCap signs agreement to acquire majority stake in DK Accountants & Adviseurs, a leading founder-led Dutch accountancy services provider

Anacap

AnaCap, a market-leading private equity investor specialised in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that it has signed an agreement for the acquisition of a majority stake in DK Accountants & Adviseurs (“DK” or the “Company”), a leading founder-led Dutch accountancy services
provider.

This acquisition marks AnaCap’s first investment in the Netherlands. It is also one of the first investments for AnaCap’s latest flagship vintage fund.

Founded in 1989, DK is an independent, full-service accountancy and advisory platform focused on providing accounting, tax, payroll, advisory and audit services to SMEs. The Company has grown from a single office to support clients across the Netherlands through its 12 offices. The business is led by a talented and experienced management team with a proven track record of delivering both organic and inorganic growth.

The accounting and audit market in the Netherlands has been experiencing steady growth, driven by longterm trends. The market is highly fragmented in nature, providing significant opportunities for further consolidation and enhancing operating leverage through scale.

Since 2019, DK has completed 8 acquisitions independently and has successfully integrated these businesses supported by significant investment in its IT platform, thereby enabling future scalability. Following AnaCap’s investment, DK aims to consolidate the fragmented Dutch accountancy market and continue to achieve above-market organic growth.

The Company’s seasoned management team, led by Founder and CEO Alber De Koning, will continue to steer the Company, ensuring important continuity as well as leveraging their deep industry expertise. AnaCap’s investment will enable the DK leadership team to significantly accelerate its M&A plans, supported by AnaCap’s extensive experience in executing successful buy-and-build strategies across the financial ecosystem in Europe. The partnership will also focus on driving operational efficiencies, expanding service offerings and enhancing client value with technology and innovation as the cornerstones of business excellence.

The transaction is subject to the information and consultation of DK’s employee representative bodies and to other customary closing conditions, including regulatory approval with respect to the audit arm of the Company. AnaCap received financial advice from KPMG and legal advice from  Linklaters.

Nassim Cherchali, Managing Partner at AnaCap, commented:

“We are thrilled to announce the signing of this majority investment into DK. This represents one of the first investments in our latest flagship fund with a number of other transactions already under exclusivity and progressing well towards the signing stage. DK presents as an appealing opportunity to invest in a fastgrowing market with a significant runway for future M&A activity. DK closely aligns with AnaCap’s core investment philosophy with an impressive and highly recurring revenue profile, strong client loyalty and a clear roadmap to margin expansion through both scale and productivity gains over time.”

Nicholas Montoute, Investment Director at AnaCap, added:

“We are delighted to announce our inaugural investment in the Netherlands with a leading accountancy platform. AnaCap’s investment in DK demonstrates our commitment to partnering with ambitious management teams to support and accelerate their growth ambitions. We are excited to work with the entire team at DK and are thrilled to welcome them to the AnaCap platform.”

Alber De Koning, CEO of DK, concluded:

“We are excited to partner with AnaCap, whose strategic vision and operational expertise align perfectly with our growth ambitions. This partnership will provide us with the resources and support to grow as well as deliver exceptional value to our client base.”

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Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device

Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device.

The OrangeQS MAX is an important product for the quantum industry.

Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

📰 Read more about the first OrangeQS MAX shipment here: https://lnkd.in/e22h_-c7

First OrangeQS MAX is shipped to IQM in Espoo, Finland

The first OrangeQS MAX has been shipped to the quantum chip fabrication facility of IQM in Espoo, Finland. Quantum chip producers still need to perform cryogenic end-of-line testing on every single chip and the OrangeQS MAX is currently the only turn-key test equipment for utility-scale quantum chips in the market.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

 

In November 2024, we successfully completed the Factory Acceptance Test of our first OrangeQS MAX. This was followed by a memorable product launch and reveal of the launching customer of the OrangeQS MAX, namely IQM Quantum Computers.

The OrangeQS MAX is now shipped to the quantum chip fabrication facility of IQM in Espoo, Finland, where the OrangeQS deployment team will be assembling it onsite.

The OrangeQS MAX is an important product for the quantum industry. Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

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Gilde Healthcare company GT Medical Technologies raises $37 million in to advance GammaTile® for patients with operable brain tumors

January 17, 2025
Tempe, Arizona (United States)

GT Medical Technologies, Inc. (GT MedTech), a medical device company with a corporate purpose of improving the lives of patients with brain tumors, today announced the company has completed a $37 million first close of a Series D financing round.

The financing was led by Evidity Health Capital, alongside new investor Accelmed Partners. Also participating were existing investors Gilde Healthcare, MVM Partners, and Medtech Venture Partners. The funds will accelerate the completion of the ROADS clinical study that is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the funds will support the continued commercialization of GammaTile®, the Company’s FDA cleared bioresorbable radiotherapy implant for the treatment of brain tumors.

By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

About GT Medical Technologies, Inc.
GT MedTech was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About GammaTile®
Since its initial market release in the United States in January 2019, GammaTile has been adopted by more than 100 leading centers, underscoring its growing acceptance in both academic and community healthcare settings. For more information, visit gammatile.com and follow @GammaTile on Facebook, Instagram, LinkedIn and X.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

 

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KKR and Gulf Data Hub Form Strategic Partnership to Scale One of the Middle East’s Largest Independent Data Center Platforms

  • Strategic partnership between a leading global investment firm and a leading UAE business with a regional footprint
  • KKR and GDH are committing to support over $5 billion of total investment to build-out data center capacity, supporting the significant rise in hyperscale demand, AI and digital-focused national priorities across the Gulf countries
  • First data center investment for KKR in the Middle East, adding to KKR’s unique global portfolio of four hyperscale platforms comprising several GW of deployed assets across 100+ facilities

DUBAI & LONDON & NEW YORK–(BUSINESS WIRE)– Gulf Data Hub (“GDH” or the “Company”), one of the largest independent data center platforms in the Middle East focused on serving hyperscale demand across the Gulf countries, and KKR, a leading global investment firm, today announced that funds affiliated with KKR will acquire a stake in GDH. The investment, which is subject to customary regulatory approvals, is being made through KKR’s Global Infrastructure strategy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250117834785/en/

H.E. Dr Thani Bin Ahmed Al Zeyoudi and H.E. Omar Sultan Al Olama, presiding over the official signing of the strategic partnership between KKR and Gulf Data Hub by Tara Davies Co-Head of KKR EMEA and Co-Head of European Infrastructure and Tarek Al Ashram, CEO of Gulf Data Hub (GDH) (Photo: Business Wire)H.E. Dr Thani Bin Ahmed Al Zeyoudi and H.E. Omar Sultan Al Olama, presiding over the official signing of the strategic partnership between KKR and Gulf Data Hub by Tara Davies Co-Head of KKR EMEA and Co-Head of European Infrastructure and Tarek Al Ashram, CEO of Gulf Data Hub (GDH) (Photo: Business Wire)

Established in 2012 and headquartered in Dubai, GDH, is one of the largest independent carrier and vendor neutral data center platforms in the Middle East with significant operating capacity and pipeline of projects. With an owned portfolio of seven purpose-built and state-of-the art data centers in the UAE and Saudi Arabia, and additional facilities planned in Kuwait, Qatar, Bahrain and Oman, GDH is focused on delivering the infrastructure required to meet hyperscale demand across the region to support increasing data consumption driven by the growing trends in digital connectivity, cloud and artificial intelligence.

The transaction marks one of the largest international investments into a UAE-founded and managed business in a fast-growing sector that benefits from high demand and major competitive advantages, reaffirming the UAE’s leadership in accelerating digital and AI capabilities. Upon completion, KKR and GDH have committed to support over $5 billion of total investment to grow GDHs’ market leading position and to support its international growth plans through organic and inorganic strategies.

GDH has successfully built on its first mover advantage and leveraged its scalable platform and large powered landbank to create a sizeable pipeline of assets. The Company’s proven track record of data centre buildouts, reliable delivery of availability, performance, security and support for hyperscale customers, and successful operation of secure data centers which have been built to ensure continuous operation, have consolidated its position as a standout business in a rapidly growing sector.

Commenting on the transaction, His Excellency Omar Sultan Al Olama, UAE’s Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, who witnessed the signing ceremony in Dubai, remarked: “The UAE exemplifies visionary leadership, driving digital and AI capabilities to new heights. By transforming ambitious visions into the achievements we are witnessing today, it sets a global benchmark for innovation and progress. Through groundbreaking initiatives and strategic investments, the UAE is shaping a future where technology enhances lives, fuels economic prosperity, and unlocks boundless opportunities.”

Al Olama further added: “This milestone underscores the strength of the UAE’s digital economy, enhances the journey of growth, and aligns with the National Strategy for Digital Economy. Building on the momentum of 2024, marked by the launch of numerous data centers, it represents a strong start to 2025 and reaffirms the UAE’s dedication to strengthening its digital infrastructure. With an unwavering commitment to excellence, the UAE continues to lead, inspiring the world by advancing human potential and creating a smarter, more connected tomorrow.”

Tarek Al Ashram, Founder and CEO of Gulf Data Hub, said: “Today marks a milestone in our growth journey as we welcome KKR, a global leader in digital infrastructure investing, as a strategic partner in our business. Over the past 12 years, GDH has grown into one of the most successful data center platforms in the region, supporting the business needs of sophisticated cloud and enterprise software customers. The strategic partnership with KKR will enable us to leverage their deep expertise, positioning us to achieve our pan-regional ambitions and deliver on our mandate of being a partner and provider of choice.”

Tara Davies, Co-Head of KKR EMEA and Co-Head of European Infrastructure, added: “The Middle East is a fast-growing region for hyperscale deployment. With competitively priced and readily available sources of energy, an unmatched ability to serve as a gateway hub for Asia and Africa, and sustained government commitment to power the growth of the digital sector, we believe it is today one of the most attractive investment destinations for long-term capital. Our investment in GDH aligns with our conviction in digital infrastructure and enables us to leverage our global connectivity to drive value and accelerate the growth of a leading business in the region. It also reinforces KKR’s continued commitment to the Middle East, following our landmark investment in ADNOC Oil Pipelines as well our work with Etihad alongside Altavair AirFinance.”

Waldemar Szlezak, Global Head of Digital Infrastructure at KKR, said: “Today’s digital assets form the backbone of our data-driven society. With the world set to generate 1.5 times more digital data than just two years ago, the demand for data center capacity is skyrocketing. The ongoing migration to cloud computing and the rise of AI are not just trends; they are reshaping the landscape of digital infrastructure. As business requirements evolve, strategic investments such as the one we have forged with GDH will be crucial to harnessing the full potential of our digital future. We look forward to working with Tarek and his team to power their success together.”

KKR has had a presence in the Middle East for over 15 years, with offices in Dubai and Riyadh. Prior investments in the region include the strategic partnership with ADNOC to create ADNOC Oil Pipelines, which marked the first midstream infrastructure collaboration between a leading global institutional investor and a national oil company in the Middle East. KKR also acquired a portfolio of commercial aircraft from Etihad Airways in 2020 through aircraft leasing investment platform Altitude Aircraft Leasing, which was established by KKR’s credit and infrastructure funds in 2018 to acquire aircraft serviced by Altavair.

KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world with $77 billion in infrastructure assets under management as of September 30, 2024. To date, KKR has invested more than $29 billion across 22 investments in relevant digital infrastructure companies across data centers and fiber, as well as $15 billion in power, utilities, and energy.

KKR’s significant global data center footprint spans four platforms with several GW of deployed assets across over 100 facilities and more under development globally. These platforms include US-based global data center infrastructure provider CyrusOne, Singapore-based data center operators STT GDC and Nxera, and UK-based hyperscale data center developer, owner, and operator GTR. KKR’s portfolio also includes over 10 renewable energy developers with over 50 GW of global development pipeline.

Advancements in AI are fueling an unprecedented demand for data centers, but a limited availability of reliable power is impeding the strategic goals of the world’s largest technology companies, enterprises, and governments looking to deploy AI. To help address this, KKR has formed a $50 billion strategic partnership with Energy Capital Partners, the largest private owner of power generation and renewables in the US, designed to deliver scaled data center and power solutions for hyperscalers and other market participants to support the rapid expansion of AI and cloud computing globally.

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 GDH

Gulf Data Hub (GDH) is a leading provider of state-of-the-art data center solutions across the Middle East, offering highly secure, scalable, and sustainable infrastructure for businesses in the digital economy. Since its inception in 2012, GDH has consistently innovated and sought ways to minimize the risks associated with downtime while maximizing operational efficiency. With facilities strategically located in key markets, GDH provides colocation, cloud, and connectivity services to a diverse portfolio of clients, including global enterprises, governments, and hyperscale cloud providers. Committed to innovation, operational excellence, and environmental sustainability, GDH empowers its clients to thrive in a rapidly evolving digital landscape. For additional information about GDH, please visit the GDH website at www.gulfdatahub.ae

Media

Middle East:
Mitali Atal: mitali.atal@fgsglobal.com
Aditi Mane: aditi.mane@fgsglobal.com

United Kingdom:
Alastair Elwen: alastair.elwen@fgsglobal.com
Jack Shelley: jack.shelley@fgsglobal.com

Source: KKR

 

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Equistone-backed Talon acquires Out of Home Masters

Equistone Partners Europe (“Equistone”), today announces that it has supported its portfolio company, Talon, the global independent Out-of-Home (OOH) media agency, with the acquisition of Out of Home Masters, the largest independent OOH specialist in the Netherlands. The transaction is the third announced by Talon since Equistone invested in the business in 2022. The financial terms of the transaction remain undisclosed.

Founded in 2015 by Frank Hardenberg – former Managing Director of Wall Netherlands, CBS Outdoor and Exterion Media – Amsterdam-based OOH Masters has grown to become a major player in the Dutch OOH market. With an established presence across the Netherlands, Belgium, and Luxembourg, the agency delivers innovative, data-driven campaigns for renowned brands and agencies such as Havas Media, Talpa Radio & TV, Hunkemöller, Coolblue, Enterprise, and Tony Chocolonely.

Headquartered in London with offices in Dubai, Dublin, Frankfurt, Manchester, New York, San Diego, Nashville and Singapore, Talon works with global brands to deliver innovative media solutions for OOH at global, national and regional levels. Since investing in the business in 2022, Equistone has worked closely with the Talon management team on executing an ambitious growth plan, which has focused on consolidating its leading position in the UK, growing its share in the US market and investing heavily in technology to capitalise on the rapidly growing programmatic OOH market. The acquisition of Out of Home Masters follows the acquisitions of Novus Canada and Evolve in 2023 and provides Talon with an important foothold in the attractive Benelux market.

Paul Harper at Equistone said: “Since 2022, we have worked closely with the Talon management team on implementing and pursuing an ambitious buy-and-build strategy. This latest acquisition represents another important milestone for this strategy, which, in combination with accelerated investment into technology and talent, is focused on cementing Talon as the global leader in Out-of-Home advertising.”

Tristan Manuel at Equistone added “OOH Masters provides access to the highly attractive Dutch OOH market which benefits from high programmatic adoption and provides a bridgehead for Talon to expand into the broader Benelux region.”

Sue Frogley, Global CEO of Talon, said: “OOH Masters has been a valued partner in our international network for several years, so this acquisition is a natural next step. Frank and his team have built an exceptional business with a strong reputation for delivering innovative, data-driven solutions in one of Europe’s most dynamic OOH markets. Their expertise and vision align perfectly with our strategy, and together, we’re well-positioned to drive even greater value for our clients and growth across the region.”

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Bridges Consumer Healthcare Announces Acquisition of Category-Leading Consumer Health Brand KT Tape

Charlesbank

Chattanooga, TN, January 16, 2025 – Bridges Consumer Healthcare LLC (“Bridges” or the “Company”), a consumer healthcare platform made up of nine over-the-counter (“OTC”) and personal care brands, today announced the acquisition of KT® Tape (“KT”), the leading kinesiology tape brand designed to provide drug-free pain relief and support for muscles, tendons and ligaments. The strategic move diversifies and strengthens Bridges’ portfolio of specialty OTC brands, increasing the Company’s scale and positioning Bridges for accelerated organic growth and further add-on opportunities. Terms of the transaction were not disclosed.

Founded in 2008, KT Tape has been a pioneer in providing drug-free, innovative solutions to prevent and relieve pain and promote recovery. The company partnered with Palladin Consumer Retail Partners (“Palladin”) in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. KT is a category leader used by notable athletic organizations including the U.S. Olympic and Paralympic Teams. The addition of KT to Bridges represents the next phase of growth for the brand, with further investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform. KT is also the fourth acquisition completed since the inception of Bridges and opens the door for additional opportunities for accretive M&A.

“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers’ everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare. “KT’s innovative solutions enhance Bridges’ already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”

“Today’s announcement marks an exciting new chapter for KT, positioning us to reach more customers and continue to drive meaningful innovation through the added scale of the Bridges platform,” said Jessica Klodnicki, CEO at KT Tape. “We have been impressed by Bridges’ leadership and depth of expertise across several consumer health verticals, as well as the Company’s steadfast focus on its customers. We are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”

Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a market-leading consumer healthcare platform. Since its formation, Bridges has executed on this mission, acquiring nine brands focused on pain relief, women’s health and supplements, and accelerating double-digit growth through strategic marketing, innovation and a diverse range of sales channels, including e-commerce and B2B partnerships.

“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank. “This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”

Mark Schwartz, CEO of Palladin, added, “It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We’re confident that Bridges will be a good platform for KT’s next stage of growth.”

Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank. Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen.

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Gryphon Investors-Backed Repipe Specialists Acquires A-1 Total Service Plumbing

Gryphon Investors

Expanding Capabilities in Residential, Multi-Family, and Commercial Plumbing and Piping Solutions

Repipe Specialists (“Repipe”), a leading residential and commercial piping and water services company, announced today that it has acquired A-1 Total Service Plumbing (“A-1” or the “Company”), a Los Angeles area provider of residential, commercial, municipal, and industrial plumbing and lining services. Repipe is backed by middle market private equity firm Gryphon Investors. Terms of the transaction were not disclosed.

Founded in 2004 and headquartered in Los Angeles, CA, A-1 is a full-service provider of traditional residential and commercial plumbing services along with lining and pipe rehabilitation services. The A-1 management team will remain with the Company, and founder and owner Raymond Gray is retaining a significant ownership stake.

“We are thrilled to add A-1 to the growing Repipe team,” said Repipe’s CEO Jay Teresi. “A-1’s strong expertise in plumbing and lining services perfectly complements Repipe’s nationwide capabilities. This partnership expands our service offerings, enhances our technical expertise, and allows us to deliver more comprehensive one-stop solutions for our customers. Ray and the A-1 team share our core values, purpose, and vision: delivering high-quality piping systems and plumbing services that provide clean, clear flowing water essential to everyday life.”

“As we considered our options, joining forces with Repipe and Gryphon was the obvious choice given their added financial and operational resources, national reach, and complementary service offerings,” said Mr. Gray. “Repipe has an unmatched reputation as the premier player in the market, and we are excited for our customers and employees to benefit from the comprehensive product and service portfolio this combination offers.”

A-1 marks the first add-on acquisition that Repipe has made since being acquired in 2022 by Gryphon’s Heritage Fund, the firm’s small-cap investment strategy. Repipe is actively seeking to partner with additional businesses to further expand its premium portfolio of brands and products.

“Our aim is to be the premier provider of residential and commercial piping, lining, and plumbing services, and this acquisition helps achieve our goals,” said Jeff Pembroke, operating partner and co-head of Gryphon’s Heritage Fund. “We look forward to continued and accelerated growth as a result of this acquisition.”

About A-1 Total Service Plumbing

Founded in 2004 by Raymond Gray and headquartered in Los Angeles, CA, A-1 is a leading full-service provider of plumbing and lining services. The company operates in two segments: service plumbing and repair, and lining and pipe rehabilitation. Known for its superior quality service, A-1 has built a strong reputation for plumbing and lining services across California, Nevada and Arizona, while offering commercial lining services nationwide.

About Repipe Specialists

Founded in 1991 and headquartered in Burbank, California, Repipe Specialists is a market leader in residential, multi-family, and commercial repiping. With their proven One-Stop Repipe™ process, they complete installations in just 1–2 days using high-quality materials backed by a lifetime warranty. Having repiped over 75,000 properties in more than 30 years, they are a nationally recognized leader and locally trusted for their efficient and reliable service. For more information, visit www.repipe.com.

About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

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