It is with great sadness that we have received the information that Latour’s founder Gustaf Douglas today quietly has passed away.

Words can’t easily describe what a wonderful and compassionate person Gustaf was. With his genuine interest for the businesses and his ability to express himself, he inspired and engaged employees at all levels in the companies he worked with. Gustaf’s success as one of Sweden’s great global industrial builders all time is indisputable. His legacy now lives on in all the companies he helped to build, not least through the long-term sustainable corporate culture that now lives on in all of Latour’s companies. Gustaf was always ahead of his time.

Our thoughts today are with Gustaf’s wife Elisabeth, and his sons Carl and Eric with families. The grief and loss after him will be large.

Göteborg, May 3, 2023

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Olle Nordström, Chairman of the Board of Investment AB Latour +46 709 40 70 83
Johan Hjertonsson, CEO of Investment AB Latour +46 702 29 77 93

Dr. Boris Gorella joins Master Builders Solutions with more than 20 years’ experience in senior leadership roles, including significant experience in the chemical and basic material industry and a proven track-record as CEO. Over the last decade, Boris has developed businesses by accelerating growth, both organically and through acquisitions, and driving profitability across the whole value chain. He was previously CEO of Pfleiderer Group, a leading European manufacturer of engineered wood panels, where he was successful in expanding the business with a focus on product premiumisation and price-management. Prior to Pfleiderer Group, Boris was CEO of Beckers Group, a coatings provider for industrial applications with operations in 19 countries. During his time in this position, he helped develop the company into the global leader in coil coatings.

Boris is familiar with Master Builders Solutions, having operated as head of BASF’s Construction Chemicals Business Unit in Asia Pacific, as well as President of Evonik’s Construction Chemicals Business Unit in Asia. Boris received an MBA from INSEAD and a PhD in Chemistry from TU Berlin.

Eric Bergé has more than 20 years’ experience in the industry, having been President of the US operations at Parex, a constructions systems manufacturer, before becoming Managing Director of Chryso, a leading admixtures manufacturer, and then returning to Parex as CEO.

Dr. Boris Gorella commented:

“I am very excited to join Master Builders Solutions, a company with world-class technologies, proven innovation capabilities, strong brands and very committed employees, at such a pivotal time for the business. As an independent company with construction chemicals at its core and under new ownership, I am looking forward to working with Master Builders Solutions’ management and the Cinven team to help the business realise its full potential through new opportunities and a long-term growth strategy.”

Pontus Pettersson, Partner at Cinven, added:

“We are very pleased that Boris and Eric will be joining Master Builders Solutions. They both have longstanding experience in the industrials sector, building businesses and empowering teams, and are both former executives of leading groups in the industry. We are convinced they will add great value to Master Builders Solutions  in its next phase of growth. Cinven is excited to build an independent, focused company, providing the support to achieve an ambitious growth strategy and we look forward to working closely with Boris and Eric to accomplish this.”

Cinven’s acquisition of Master Builders Solutions builds on its significant expertise in the admixtures market through its successful investment in Chryso. Under the Cinven Funds’ ownership, Chryso grew to become a leading player in the admixtures market.

The transaction underscores Cinven’s reputation as one of the leading investors in industrial carve-outs in Europe. Since 2020, Cinven has completed the carve-outs of TK Elevator from thyssenkrupp AG (2020), Arxada (formerly Lonza Specialty Ingredients) from Lonza Group AG (2021) and Envu (formerly Bayer Environmental Science) from Bayer AG (2022). Cinven is one of the leading investors in Germany and the wider DACH region. In addition to the aforementioned carve-outs, recent Cinven Funds’ investments headquartered in Germany include think-cell (2021) and dogado group (2023, combination with group.ONE), as well as Viridium Group (2019), STADA (2017) and Synlab (2015).

At today’s Annual General Meeting of Nordstjernan, the following Board members were re-elected: Viveca Ax:son Johnson (Chairman), Johan Blomquist, Peter Leimdörfer, Tomas Nicolin and Christoph Vitzthum. Axel Mörner was elected new Board member and Vice Chairman. Caroline Berg has declined re-election after serving as Board member and Vice Chairman for seven years.

Axel Mörner has a background as Investment Director of Axel Johnson Inc. (US) and has held a number of management roles at Axfood, but also has many years of experience from Board work in both entrepreneurial and investment companies. Today, Axel Mörner is Chairman of Axel Johnson Inc. and a Board member of AxSol, Swedish-American Chamber of Commerce New York, the investment council for Altocumulus Asset Management, the Axel and Margaret Ax:son Johnson Foundation for Public Benefit and so forth.

“We are very pleased that Axel, with his experience and international perspective, has decided to join the Board and contribute to Nordstjernan’s new investment strategy. He belongs to the fifth generation of our family to now become involved in the company, which ensures a high level of continuity that we and other owners appreciate,” says Viveca Ax:son Johnson, Chairman of the Axel and Margaret Ax:son Johnson Foundation for Public Benefit and Caroline Berg, Chairman of the Axel and Margaret Ax:son Johnson Foundation.

“It is both a great honor and a pleasure to be elected to Nordstjernan’s Board. I am very much looking forward to working together with Viveca and the rest of the Board and thereby contributing to Nordstjernan in the future,” says Axel Mörner.

Questions will be answered by:

Stefan Stern, Head of Communications, Nordstjernan

Mobile: +46 70 636 74 17

E-mail: stefan.stern@nordstjernan.se

Nordstjernan is predominantly owned by the Axel and Margaret Ax:son Johnson Foundations. Since its establishment in 1890, Nordstjernan has owned and developed hundreds of companies in a range of industries. Today, Nordstjernan has investments in more than 20 companies in five focused sectors. Together, these companies have sales of SEK 130 billion and employ more than 50,000 people. Read more on www.nordstjernan.se.

Pittsburgh, PA, April 24, 2023 – Confluence Technologies, Inc. (“Confluence”), a global software provider helping the investment management industry solve complex investment data challenges, today announced that Joan Binstock has joined its board of directors. Confluence is backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and TA Associates (“TA”).

Ms. Binstock brings more than 30 years of experience in the asset management industry. She currently serves as Independent Director and Audit Chair at KKR Real Estate Select Trust Inc., as well as a Board Member at both Morgan Stanley Direct Lending Fund, and Brown Brothers Harriman US Mutual Funds.

“We are thrilled to have Joan join our board,” said Mark Evans, CEO of Confluence. “Her extensive experience in the asset management industry, across a broad set of asset classes and working with multiple technology providers, is invaluable as we continue to expand our solutions to better serve the investment management industry.”

Ms. Binstock previously held several executive leadership positions, including as Partner, Chief Financial and Operations Officer at Lord, Abbett & Co. LLC. She also serves as a Board Member for various non-profit organizations and educational institutions, including Year Up, Bronx High School of Science, and the Duke University School of Medicine. Ms. Binstock holds a bachelor’s degree from Binghamton University and an MBA from the NYU Stern School of Business.

“I am excited to join the board of Confluence,” said Ms. Binstock. “Confluence has a strong reputation in the industry for providing innovative and proven solutions that help customers in the asset management industry navigate regulatory compliance and make better investment decisions. I look forward to working with the team to continue to drive growth and success for the company.”

About Confluence

Confluence is a leading global technology solutions provider committed to helping the investment management industry solve complex data challenges across the front, middle and back offices. From data-driven portfolio analytics to compliance and regulatory solutions, including investment insights and research, Confluence invests in the latest technology to meet the evolving needs of asset managers, asset owners, asset services, and asset allocators to provide best-of-breed solutions that deliver maximum scalability, speed, and flexibility, while reducing risk and increasing efficiency. Headquartered in Pittsburgh, PA, with 15 offices across the United Kingdom, Europe, North America, South Africa, and Australia, Confluence services over 1000 clients in more than 40 countries. For more information, visit  www.confluence.com.

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.®. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

About TA Associates

TA Associates (“TA”) is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $48.6 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. For more information, visit www.ta.com.

Media Contacts:

For Confluence:

Vanja Lakic

Vanja.lakic@cognitomedia.com  

For Clearlake:

Jennifer Hurson

jhurson@lambert.com

For TA Associates:

Marcia O’Carroll

mocarroll@ta.com

Activa Capital has announced the promotion of Elliot Thiéblin to the position of Investment Director, five years after he joined the investment firm.

Elliot started working with Activa Capital as an Associate in 2018, and later became an Investment Manager in 2021. During his time at the company, Elliot has been involved in several transactions for Activa Capital Fund III (Explore and Medisys) and Activa Capital Fund IV (Arche MC2 and BSK Immobilier), as well as various build-ups for these companies.
Prior to joining Activa Capital, Elliot worked at Lincoln International for over three years as an Analyst and then as an Associate. While at Lincoln International, Elliot worked on numerous LBO transactions, particularly in the distribution, healthcare, packaging, and business services sectors.
Elliot holds a degree from EM Lyon.
Christophe Parier and Alexandre Masson, Managing Partners at Activa Capital, stated: “Elliot has been a key contributor to Activa Capital’s success. His promotion is a reflection of his constant dedication to the team, and we warmly congratulate him.”

About Activa Capital
Activa Capital is an independent private equity company, owned by its partners, characterised by a proactive build-up strategy. It currently manages more than €300 million on behalf of institutional investors investing in French SMEs and Mid-Caps with high growth potential and an enterprise value ranging between €20 million and €100 million. Activa Capital supports them in accelerating their development and their international presence.
To learn more about Activa Capital, visit www.activacapital.com

Press contacts
Contacts Presse Alexandre Masson Christophe Parier Managing Partner Managing Partner +33 1 43 12 50 12 +33 1 43 12 50 12 alexandre.masson@activacapital.com christophe.parier@activacapital.com