PAI Partners to acquire a majority stake in Arlettie

PAI Partners

PAI Partners, a pre-eminent private equity firm, today announced that it has agreed to acquire a majority stake in Arlettie, a leading international B2B inventory management specialist for luxury brands, in partnership with its founders Muryel Lanneau and Thibaut Caillemer du Ferrage. The transaction will be made through the PAI Mid-Market Fund II (“PAI MMF II”), PAI’s second fund dedicated to mid-market opportunities, and is expected to close in early July 2026.

Arlettie organises exclusive private sales, staff sales and inventory-clearance events for many of the world’s leading luxury brands. Through a unique omnichannel platform combining physical showrooms in Paris, London, Milan and New York City with a fast-growing global online offering, the company helps luxury brands manage structural legacy stock effectively while preserving exclusivity, confidentiality and brand equity.

Arlettie operates a differentiated, consignment-based and asset-light business model, with long-standing relationships with more than 220 luxury and contemporary brands and a proprietary database of over 120,000 active consumers. The company has grown strongly, with revenue more than tripling in the last four years. This reflects the structural and recurring nature of luxury stock, an increasing tendency among luxury brands to outsource clearance to trusted specialist partners and a shift toward controlled, brand-safe channels.

With PAI’s support, Arlettie aims to accelerate its international expansion, particularly in the United States, further scale its omnichannel platform, deepen relationships with existing luxury partners and onboard new brands across categories and geographies. PAI will also support the company’s continued investment in technology, customer engagement and operational capabilities to reinforce its position as a leading global inventory management platform.

Muryel Lanneau and Thibaut Caillemer du Ferrage, the founders of Arlettie, said: “We are thrilled to welcome PAI as a shareholder in Arlettie. Throughout the process, we were impressed by the team’s professionalism and dedication. We share a common vision for Arlettie and the same ambition to drive the company’s growth.”

Stefano Drago, a Founding Partner in PAI’s Mid-Market Fund, said: “Arlettie has grown to become the preferred partner to the world’s leading luxury brands. The business combines a structurally resilient market position with a compelling growth trajectory, underpinned by strong brand relationships, a loyal consumer base and an established omnichannel platform. We are excited to work alongside the company’s management team to support the next phase of growth, leveraging PAI’s proven expertise in Business Services to accelerate international expansion and further strengthen Arlettie’s multi-channel capabilities.”

About Arlettie

Arlettie is the leading omnichannel inventory management platform for luxury brands, organising exclusive private sales events on behalf of more than 220 active luxury and contemporary brand partners. Operating across showrooms in Paris, London, Milan and New York City, as well as online, Arlettie delivers tailored, data-driven stock clearance events that enable brands to reduce legacy inventory efficiently whilst preserving exclusivity and brand equity. For more information, visit www.arlettie.com.

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has c. €25 billion of assets under management and, since 1994, has completed over 100 investments in 13 countries and realised more than €33 billion in proceeds from c. 70 exits.

PAI has built an outstanding track record through partnering with ambitious management teams, where its unique perspective, unrivalled sector experience and long-term vision enable companies to pursue their full potential – and push beyond. Learn more at www.paipartners.com.

Contacts

PAI Partners
Dania Saidam
+44 20 7297 4678

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3i invests in leading French natural nutrition brand Nutergia

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3i Group plc (“3i”) today announces that it has invested in Laboratoire Nutergia (“Nutergia”), a leading French natural food supplements brand and a pioneer in science-based micronutrition.

Founded in 1989 by Claude Lagarde and headquartered in Capdenac, France, Nutergia provides natural, expert-recommended food supplements, with a differentiated positioning built around its proprietary concept of Active Cellular Nutrition®. The company develops and manufactures high-quality products, distributed primarily through pharmacy channels and benefits from strong, long-standing endorsement by healthcare professionals.

Nutergia has delivered double-digit organic annual growth for over a decade underpinned by strong patient trust and high brand loyalty. The company operates a well-invested production facility in France where it has an established presence in addition to Spain and Belgium, with growing international and digital channels.

The European market for natural and expert-recommended food supplements continues to benefit from durable long-term growth drivers, including ageing populations, increased consumer focus on prevention and wellbeing, and rising demand for high-quality, science-backed products. As a premium brand of choice, Nutergia is well positioned to capitalise on these trends.

3i is investing to accelerate Nutergia’s growth, driving further penetration of existing markets, continued innovation across product categories, acceleration of digital channels and international expansion in selected geographies. As part of the transaction, the Lagarde family will retain a significant minority shareholding and continue to be actively involved in the business.

Claude Lagarde, Founder, Nutergia, said: “Nutergia is built around scientific rigour, product quality and trust from consumers and healthcare professionals. We are pleased to welcome 3i as a partner who shares our ambition and brings significant experience of supporting premium healthcare brands in their growth journey, especially in their international expansion. Together, we look forward to building on Nutergia’s foundations and accelerating our long-term ambitions.”

Pierre-Axel Botuha, Partner and Co-Head of France Private Equity, 3i, said: “Nutergia is a top-tier nutrition business with a strong brand, deep healthcare heritage and a long track record of growth. It fits perfectly with our strategy of investing in differentiated companies which help consumers achieve a healthier lifestyle. We have known Nutergia for a long time and have followed its progress for many years and are delighted to now partner with the team to support the next phase of the company’s development.”

This investment builds on 3i’s successful experience of investing in international branded businesses with strong sustainability credentials, such as WaterWipes, MPM and Havea.

-Ends-

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CVC Capital Partners completes the sale of leading personal care business FineToday to Bain Capital

CVC Capital Partners

CVC Capital Partners and Bain Capital today announced the completion of Bain Capital’s acquisition of 100% of the outstanding shares of FineToday Holdings Co., Ltd. (“FineToday”) from majority shareholder CVC Asia Fund V (“CVC Asia V”) and other shareholders.

FineToday is a market-leading personal care and beauty company with a strong portfolio of brands, many of them household names, including hair care products TSUBAKI, fino, and the recently launched +tmr, skin care brands SENKA and uno, and body care labels Ag DEO 24 and KUYURA. FineToday has a strong presence in Japan and has expanded its footprint across key Asian markets including China and Southeast Asia.

In 2021, CVC Asia V successfully completed the carve-out of FineToday from Shiseido on a bilateral basis. Since then, under CVC Asia V’s ownership, FineToday has successfully transformed into an established standalone business. Led by a first-class management team, FineToday has accelerated product innovation and expanded its international sales footprint through strong growth in Southeast Asia and beyond.

Tetsuo Komori, CEO of FineToday, said: “We are delighted to welcome Bain Capital as a new shareholder and strategic partner. We are extremely grateful to CVC, which has been a dedicated and valued partner since its investment in our business in 2021. Since our founding, we have pursued both business growth and global sustainability driven by a cultivated sense of aesthetics. With Bain Capital as our partner, we will receive strong support in realizing our dual management approach, benefiting from their insights on enhancing corporate value from a medium- to long-term perspective. Through this partnership, we will continue to deliver sustainable economic and social value to all our stakeholders.”

Quotes

It has been a privilege to support the business from its establishment as an independent company through to its current position on a strong growth trajectory

Atsushi AkaikeManaging Partner at CVC and Co-Head of CVC Japan

 Atsushi Akaike, Managing Partner at CVC and Co-Head of CVC Japan, said: “We are delighted to see FineToday taking this important step toward its next phase of growth. It has been a privilege to support the business from its establishment as an independent company through to its current position on a strong growth trajectory. We are proud of what the FineToday team have built and have full confidence that they will achieve even greater success with Bain Capital. We wish the company continued growth and prosperity.”

Naofumi Nishi, Partner at Bain Capital, said: “We are very pleased to have completed the acquisition of all shares of FineToday. Leveraging our experience and expertise in the retail and consumer sectors, Bain Capital is fully committed to supporting FineToday’s continued growth — a company with a strong and unwavering presence in the personal beauty care market across Japan and Asia.”

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EQT to Launch Tender Offer to Privatize Kakaku.com

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  • EQT to launch a tender offer to privatize Kakaku.com, Inc., a Japanese classified and marketplace platform
  • Kakaku.com operates core services including Tabelog, Kakaku.com and Kyujin Box
  • Following a review by an independent Special Committee, the Board of Directors unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares

EQT today announced that BPEA Private Equity Fund IX (“BPEA Fund IX” or “EQT”) will launch a tender offer (the “Tender Offer”) to acquire Japanese classified and marketplace platform Kakaku.com, Inc. (“Kakaku.com” or the “Company”; ticker symbol: TSE 2371) at an offer price of JPY 3,000 per share.

Kakaku.com operates a portfolio of digital platforms in Japan, including Kakaku.com, a price comparison platform; Tabelog, a restaurant review and online reservation platform; and Kyujin Box, a job search platform. The Company has established positions across these services with strong consumer engagement and long-standing relationships with users and business partners.

The Company’s board of directors and Special Committee unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares. In addition, major shareholders Digital Garage and KDDI, who together hold 38.1% of the shares, have entered into agreements with EQT and will dispose of their shares through a share buyback by Kakaku.com after the Tender Offer. Digital Garage, as a consortium partner of EQT, is expected to re‑invest and hold an approximately 20% equity stake in the tender offeror group. Following the successful completion of the transaction, EQT intends to work closely with management to strengthen the Company’s platforms, enhance its technology capabilities, and drive long-term value creation.

Tetsuro Onitsuka, Partner in the EQT Private Capital Asia team, said: “Kakaku.com has built a portfolio of trusted services that are deeply embedded in everyday life in Japan. As a global investor bringing together European industrial heritage with deep local presence and active ownership, we look forward to partnering with management to support the Company’s continued ability to adapt and grow in an increasingly AI-driven environment. This transaction reflects EQT’s long-term commitment to Japan and builds on our growing footprint in the market, where we continue to see opportunities to support companies through periods of structural change and long-term development.”

This transaction underscores EQT’s ongoing commitment to Japan following recent take-private transactions and strategic activity in the market. EQT’s recent activity in Japan includes the privatizations of Fujitec, CareNet and Mamezo, and the completion of exits of TRYT and Pioneer to high-caliber sponsor and strategic buyers last year.

With this transaction, BPEA Fund IX is expected to be 10-15 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) and subject to customary regulatory approvals.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of BPEA Fund IX will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document obtainable from the issuer or its agents and would contain detailed information about the issuer and its management, as well as financial statements. The securities may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Regulations on Solicitation

This press release is intended to provide information relating to the Tender Offer to the public and has not been prepared for the purpose of soliciting the sale of shares. If shareholders wish to sell their shares, they should first carefully read the Tender Offer Explanation Statement concerning the Tender Offer and make their decision at their own discretion. This press release does not constitute, or form a part of, an offer to sell or a solicitation of an offer to sell or a solicitation of an offer to purchase securities, and neither this press release (in whole or in part) nor its distribution will form the basis of, or be relied on in connection with, an agreement related to the Tender Offer.

US Regulations

The Tender Offer will be conducted in accordance with the procedures and information disclosure standards provided in Japanese law, and those procedures and standards are not necessarily the same as the procedures and information disclosure standards applicable in the United States. In particular, Section 13(e) or Section 14(d) of the U.S. Securities Exchange Act of 1934 (as amended, the “Securities Exchange Act”) and the rules promulgated thereunder do not apply to the Tender Offer, and the Tender Offer does not conform to the procedures or standards therein. All financial information included or mentioned in this press release and the documents referenced herein is not based on U.S. accounting standards, and such accounting standards may not be equivalent to or comparable with financial information prepared in accordance with U.S. accounting standards. Because the tender offeror is a corporation established outside the United States and all or some of its directors and officers are not residents of the United States, it may be difficult to exercise rights or make claims against them that can be asserted based on U.S. securities-related laws. In addition, it may not be possible to initiate legal proceedings against a non-U.S. corporation and its officers in a non-U.S. court on the grounds of violation of U.S. securities laws. Furthermore, there is no guarantee that a non-U.S. corporation and its affiliates will be subject to the jurisdiction of a U.S. court.

The respective financial advisors of the tender offeror, the Company, Digital Garage, Inc. and KDDI Corporation, the tender offer agent, and their respective affiliates may, in the ordinary course of their business, to the extent permitted by the financial instruments exchange-related laws and regulations of Japan and other applicable laws and regulations, and in accordance with the requirements of Rule 14e-5(b) under the Securities Exchange Act, purchase, or engage in activities directed at purchasing, shares of the Company for their own account or for the account of their clients, either prior to commencement of the Tender Offer or during the Tender Offer Period, outside the Tender Offer. If information concerning any such purchase is disclosed in Japan, disclosure will be made in English on the website of the person making such purchase (or in another manner).

Unless otherwise specified, all procedures relating to the Tender Offer will be conducted in the Japanese language. While some or all documents related to the Tender Offer may be prepared in English, the Japanese-language documents will prevail in the event of any discrepancies between the English and Japanese documents.

This press release contains “forward-looking statements” as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Known or unknown risks, uncertainties, or other such factors could lead to outcomes that may differ markedly from the projections and other information explicitly or implicitly indicated in such forward-looking statements. Neither the tender offeror nor its affiliates guarantees that the projections and other information explicitly or implicitly indicated in such forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information in the possession of the tender offeror as of the date of this press release, and unless required by laws or regulations or the rules of a financial instruments exchange, neither the tender offeror, the Company, nor any of their respective affiliates will be obligated to change or revise such statements to reflect any future events or circumstances.

Other National Regulations

The release, issue or distribution of this press release may be subject to legal restrictions in certain countries or regions. In such cases, please be aware of and comply with any such restrictions. The release, issue or distribution of this press release does not constitute a solicitation of an offer to purchase or sell share certificates in connection with the Tender Offer and is to be deemed solely as the distribution of materials for informational purposes.

Contact:
EQT Press Office, press@eqtpartners.com

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About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedInXYouTube and Instagram

About Kakaku.com
Kakaku.com, Inc., founded in 1997 and headquartered in Tokyo, operates a portfolio of market-leading digital consumer platforms in Japan, including Kakaku.com, the country’s largest product and price comparison site, Tabelog, the leading restaurant discovery and reservation platform, and Kyujin Box, an emerging job search platform, helping Japanese consumers make better decisions across shopping, dining, and jobs.

More info: https://corporate.kakaku.com

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Blackstone to Acquire Skroutz, Greece’s Leading Online Marketplace, from CVC

Blackstone

Investment to support continued growth and European expansion

LONDON, UK & ATHENS, GREECE – 11 May 2026 – Blackstone (NYSE: BX), the world’s largest alternative asset manager, announced today that funds managed by its private equity business have entered into a definitive agreement to acquire a majority stake in Skroutz (the “Company”), the leading online marketplace in Greece, from CVC Capital Partners Fund VII.

Skroutz is the leading e-commerce platform in Greece, offering more than 12 million products from approximately 9,000 merchants to around 2.5 million active users. Founded in 2005, the Company operates a vertically integrated platform that combines its marketplace with proprietary last-mile logistics, fulfilment services, a licensed fintech offering, and a growing retail media business.

Skroutz’s founders will sell a portion of their shareholding as part of the transaction but retain a stake and continue to lead the business. George Chatzigeorgiou will remain CEO.

Over recent years Skroutz has expanded beyond its core Greek market, establishing a presence in Cyprus and more recently expanding into Romania and Bulgaria, as it looks to broaden its footprint across Southeast Europe. Greece has been one of the fastest-growing European economies in recent years, with real GDP per capita growth consistently above the eurozone average. E-commerce penetration in Greece and Southeast Europe remains lower than across Western Europe, which the firm believes creates meaningful room for growth as those markets develop.

Alexander Walsh, Senior Managing Director at Blackstone, said: “This investment builds on our conviction in digital consumer platforms, where we believe e-commerce penetration across Europe will continue to drive meaningful growth. George and the Skroutz team have built a standout platform with a powerful brand, which we believe is well placed to capture this growth opportunity across Greece and Southeastern Europe. We look forward to partnering with them to work towards scaling the business further.”

Alex Fotakidis, a Managing Partner and Head of CVC Greece, said: “We are proud of all that Skroutz has achieved during our productive partnership. Together with the Founders and management team, we have made significant investments in infrastructure, merchant capabilities and customer experience, and successfully evolved from a price-comparison platform into Greece’s leading e-commerce marketplace. We believe Skroutz is well-positioned to continue its growth journey with Blackstone.”

George Chatzigeorgiou, President and CEO of Skroutz, said: “This marks a significant new chapter for Skroutz. Since its launch in 2005, the company has undergone a substantial journey of transformational growth. I would like to express my sincere gratitude to CVC for its invaluable support over the past six years. During this period, Skroutz successfully evolved into a pure, verticalised online marketplace, further solidifying its leadership position. We are equally pleased to partner with Blackstone, whose strong investing experience in online marketplaces and digital platforms makes it an excellent fit for our future. As we build on the foundation we have created, Blackstone will help accelerate our next stage of innovation and growth. I would like to thank my co-founders, the entire Skroutz team, and our partners and users for the confidence they have placed in us.”

Blackstone has a proven track record investing in digital consumer and marketplace businesses, including Adevinta, the world’s largest online classifieds platforms, and Property Finder, a leading property portal in the Middle East and North Africa. These investments reflect the firm’s conviction in technology-enabled platforms with leading market positions that benefit from long-term secular tailwinds.

The transaction is expected to close in H2 2026, subject to regulatory approvals.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedInX (Twitter), and Instagram.

Blackstone Contact
Matt Thomas
Matthew.Thomas@blackstone.com
+44 7350 445003

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Power Home Remodeling Secures Investment from Bain Capital, Sixth Street, and Harvest Partners Structured Capital

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nvestment to support the continued expansion of the leading home remodeling company

Chester, Pa. – May 4, 2026 – Power Home Remodeling (“POWER”), the nation’s leading exterior home remodeler, today announced that it has secured a growth investment from Bain Capital, Sixth Street, and Harvest Partners Structured Capital. The firms will partner with POWER’s management team and existing investor, Harvest Partners, whose funds remain the largest investor, to support the company’s continued expansion. To date, POWER has served more than one million customers across 26 territories nationwide.

POWER has delivered consistent growth over the past decade, gaining meaningful share in the highly fragmented, multi-billion-dollar home improvement market. As one of the few scaled national players in exterior home remodeling, the company has differentiated itself through a centralized operating model and a proprietary platform that supports its sales, installation, and customer experience processes at scale. That operating discipline is reinforced by a culture of excellence that has developed leaders from within, supported growth to more than 5,000 employees, and earned the company repeated recognition as a top workplace across industries.

“Over the past 30 years, we have built POWER into one of the largest full-service exterior home remodelers in the United States,” said co-CEOs Asher Raphael and Corey Schiller. “We are committed to delivering exceptional results for homeowners through strong customer relationships, our proprietary technology platform, and a deep commitment to talent development. We see significant opportunity ahead, and this investment will help us continue to grow and scale while further strengthening our market position.”

The investment will support POWER’s next phase of growth as the company continues to expand its footprint, invest in its proprietary operating platform, build on the talent development, corporate culture, and sales model that have helped it differentiate at scale.

“POWER is a market leader and one of the few scaled national players in the fast-growing repair and remodeling sector,” said Cristian Jitianu, a Partner at Bain Capital Special Situations. “The company has built a proven, repeatable model with a differentiated platform and significant runway for continued growth. We look forward to partnering with POWER to support continued innovation and long-term value creation.”

“Asher, Corey, and team have built an incredible business with a differentiated value proposition within the resilient home repair and remodeling sector,” said Kayvan Heravi, Partner and Co-Head of Consumer at Sixth Street. “We are excited to partner with the POWER team, Harvest Partners, and Bain Capital, and look forward to supporting the company’s long-term growth.”

“Since investing in the company in 2022, Harvest Partners has been proud to support POWER’s nationwide expansion, and we’re excited to partner with Bain Capital and Sixth Street to drive the company’s next stage of development,” said Nick Romano, Partner at Harvest Partners. “This is a great outcome for the company’s employees and customers, as well as our investors.”

Harris Williams served as financial advisor, and Kirkland & Ellis LLP served as legal advisor to Harvest Partners and POWER. Bank of America and Rothschild & Co also served as financial advisors to Harvest Partners and POWER. Ropes & Gray served as legal advisor to Bain Capital. Goldman Sachs served as exclusive financial advisor, and Latham & Watkins served as legal advisor to Sixth Street.

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About Power Home Remodeling
POWER is the nation’s largest, full-service, exterior home remodeler with more than 5,000 employees, over one million lifetime customers, and $1.7 billion in annual revenue. Established in 1992 and headquartered in the Philadelphia region, POWER’s primary product line includes windows, siding, roofing, gutters, doors, solar roofing panel, and attic insulation, providing energy-saving solutions to residents across its operating territories, including Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Indiana, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. At POWER, we believe that every home, person, and community has potential, and everything we do is in service of bringing that potential to life. That belief led us to create Power for Good, which amplifies the vision and voices of our people to drive our philanthropic efforts. Learn how Our Work Shows at www.powerhrg.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Sixth Street
Sixth Street is a global investment firm with over $130 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street’s dedicated consumer investing team provides strategic capital solutions to companies operating in a range of subsectors and business models. Sixth Street has partnered with many leading brands including Airbnb, Bay FC, Chobani, Crunch Fitness, Equinox, FC Barcelona, Legends Global, Milan Laser, Mindbody, Real Madrid, Spotify, the Boston Celtics, the New England Patriots, the San Antonio Spurs, the San Francisco Giants, and Wingstop. Sixth Street has more than 750 team members, including approximately 300 investment professionals operating across the firm’s global locations. For more information, and additional disclosures, visit www.sixthstreet.com and follow Sixth Street on LinkedIn.

About Harvest Partners
Founded in 1981, Harvest Partners is an established private equity firm with over 40 years of experience investing in middle-market companies and partnering with high-quality management teams to build growing businesses. Harvest Partners Structured Capital is the firm’s non-control investing strategy.  The firm invests in service-oriented business across four core sectors: business services & industrials, commercial services, consumer services and healthcare services. This strategy leverages Harvest Partners’ multi-decade experience in financing organic and acquisition-oriented growth opportunities. The firm has over $20 billion in assets under management as of December 31, 2025. For more information, please visit
www.harvestpartners.com.

 

Eddie de Sciora

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Global Eggs Receives Investment of Up to $1 Billion from Warburg Pincus

Warburg Pincus logo

Investment to support Global Eggs’ next phase of growth

New York, NY, March 2, 2026 – Warburg Pincus, the pioneer of global growth investing, today announced an agreement to invest up to $1 billion in Global Eggs (“the Company”), the largest multinational producer and distributor of table eggs. Valuing the Company at $8 billion, the investment underscores Warburg Pincus’ commitment to partnering with exceptional founders and investing in global companies with high growth potential. The equity for the transaction is being provided by Warburg Pincus Capital Solutions Founders Fund (“WPCS FF”).

Global Eggs is the world’s largest multinational producer and distributor of table eggs, with more than 45 million birds across its operations in the United States, South America, and Europe. Founded in 2018 by Executive Chairman Ricardo Faria, Global Eggs produces and distributes a full range of table eggs across conventional, cage-free, free-range, and specialty products, and is on track to produce over 15 billion eggs this year. The Company has expanded through both organic initiatives and strategic acquisitions and currently operates more than 50 farms across three continents. The Company takes a vertically integrated approach across pullet breeding, feed formulation, packaging, and logistics that enables it to deliver consistent, high-quality products that meet rigorous food safety standards for customers worldwide.

“In under a decade, we have scaled Global Eggs to become the largest multinational producer and distributor of table eggs, and with Warburg Pincus’ investment and ongoing support, we will accelerate our next chapter of growth in both new and existing markets,” said Ricardo Faria. “We have proven our ability to execute in the United States, South America, and Europe, and given Warburg Pincus’ global reach, we believe they are the right partner to advance our long-term ambitions.”

“Ricardo is an exceptional entrepreneur and we were aligned with his vision from day one to build on the Company’s strong foundation in a category supported by durable demand,” said Gaurav Seth, Managing Director, Head of Capital Solutions, Americas, Warburg Pincus. “Global Eggs has an exciting and significant opportunity ahead, and we look forward to leveraging our expertise to help the Company enter new markets, drive efficiencies, and strengthen its brands,” added Allison Ross, Principal, Warburg Pincus.

Warburg Pincus Capital Solutions Founders Fund closed in September 2024 with over $4 billion in commitments. Capital Solutions has a flexible mandate that allows it to partner with founders and existing shareholders to provide solutions for balance sheet optimization, shareholder liquidity, M&A, or growth. The group leverages Warburg Pincus’ global platform and firmwide resources across geographies to source and execute on hybrid capital transactions.

Allison Ross will join Global Eggs’ Board of Directors as part of the transaction.

Morgan Stanley is acting as sole placement agent to Global Eggs, and Davis Polk & Wardwell LLP is serving as its legal counsel.

Houlihan Lokey is acting as financial advisor to Warburg Pincus, and Latham & Watkins LLP is serving as its legal counsel.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $100 billion in assets under management, and more than 215 companies in its active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,100 companies across its private equity, real estate, and capital solutions strategies.

Warburg Pincus’ Capital Solutions team collaborates closely with the firm’s 290+ investment professionals and approximately 75 value creation executives across Warburg Pincus’ global industry verticals, critical to sourcing and underwriting differentiated, attractive investments. Recent investments have included DriveCentric, Excelitas Technologies, MB2 Dental, Madison International Realty, MIAX, MyKaarma, Nord Security, Service Compression, and United Trust Bank.

The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

About Global Eggs

Global Eggs is a leading multinational producer and distributor of table eggs, focused on meeting the evolving needs of consumers across its markets. Founded in 2018 by Executive Chairman Ricardo Faria, Global Eggs produces and distributes a full range of table eggs and operates trusted regional egg brands in the United States (Hillandale Farms), South America (Granja Faria), and Europe (Hevo Group). The Company takes a vertically integrated approach across pullet breeding, feed formulation, packaging, and logistics that enables it to deliver consistent, high-quality products that meet rigorous food safety standards for customers worldwide.

For more information, please visit www.globaleggs.com.

Media Contact

Warburg Pincus

Caroline Wise

Caroline.wise@warburgpincus.com

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Bain Capital Announces Investment in Tingstad a Leading Swedish Distributor of Non-food Consumables

BainCapital

LONDON – March 2, 2026 – Bain Capital, a leading global private investing firm, today announced an investment in Tingstad, a leading Swedish family-owned specialist distributor of non-food consumables. The investment is made by the firm’s Private Equity team in Europe.

Headquartered in Gothenburg, Sweden, and founded by the Jigberg family in 1959, Tingstad serves a broad and diversified customer base across hospitality, culture, facilities management, grocery, and retail. The company offers a comprehensive range of non-food consumables through a fully integrated omnichannel platform. With more than 700 employees, Tingstad has built deep, long-standing customer relationships anchored in strong category expertise, an entrepreneurial and decentralized salesforce, a differentiated private label portfolio, in-house production capabilities supporting its offering, and a best-in-class warehousing and logistics infrastructure.

Bain Capital will acquire a majority stake in Tingstad partnering with owner Paul Jigberg, who will retain a minority ownership stake, as well as the leadership team and employees, to support the company’s next phase of growth. Bain Capital Private Equity has been investing in Europe for more than two decades, with its European investment team based in London and Munich as part of a globally integrated private equity platform. The team has deep expertise in the Nordics through its current portfolio companies Eleda and Ahlstrom, and in non-food consumables distribution through Imperial Dade, which operates in the US market.

“I am proud of what Tingstad has built over decades, and I believe Bain Capital is the right partner for the company’s next chapter,” said Paul Jigberg, owner of Tingstad. “Their approach is grounded in collaboration, and I am confident they will support the management team and employees as Tingstad continues to grow and evolve for customers across Sweden and the Nordic region.”

“Tingstad is a standout Nordic distributor with deep category expertise and a world-class logistics model that customers rely on every day,” said Halvor Meyer Horten, a Partner and Co-Head of the European Industrials vertical at Bain Capital. “We’re excited to partner with Paul and the Tingstad team to build on a strong foundation, strengthening and investing in the team and the platform, and supporting continued growth across Sweden and the wider Nordic region.”

Ivano Sessa, a Partner and Co-Head of Europe Private Equity, added, “We’re investing behind Tingstad with deep experience in B2B distribution and a strong Nordic track record, and we aim to be a partner of choice for founder- and family-owned businesses. Across Europe, we work closely with management teams to help scale platforms – bringing sector expertise, operational resources, and a globally integrated network. We look forward to supporting Tingstad’s next chapter as it deepens customer relationships, expands its capabilities, and continues to strengthen its position across the Nordics.”

Financial terms of the transaction were not disclosed.

Bain Capital was advised by Jefferies, Danske Bank, Kirkland & Ellis and Advokatfirman Vinge. Tingstad was advised by DNB Carnegie Investment Bank AB and Setterwalls Advokatbyrå AB.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $215 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Tingstad 
Tingstad is a family-owned company founded in Gothenburg in 1959. From a small one‑person operation, the company has grown into one of the leading suppliers in the Nordic region. With more than 700 employees and sales offices in 13 cities, Tingstad still puts the family feeling – and the customer – first. The business serves customers in everything from the restaurant industry and specialty retail to the grocery trade. Its vision is clear: To create an easier everyday life for your business.

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CapMan Growth invests in Finnish fitness chain Kuntokeskus Liikku

Capman

CapMan Growth invests in Finnish fitness chain Kuntokeskus Liikku

CapMan Growth Equity Fund III has signed an agreement on a significant investment in Kuntokeskus Liikku, a gym chain known for its high-quality facilities and excellent value for money. The investment will further strengthen the company’s position as a market leader and support the continued execution of its growth strategy.

Liikku is one of Finland’s leading fitness chains, with more than 70 locations across the country serving nearly 90,000 members. The company’s concept is to offer high-quality self-service gyms at an exceptionally competitive price point which, combined with strong operational efficiency, provides a solid foundation for profitable growth.

The company has grown rapidly in recent years and demonstrated its ability to build a profitable business. Its growth strategy centres on opening new locations in multiple cities each year. The aim is to support the wellbeing of people across Finland by serving an ever broader customer base and meeting the growing demand for high-quality, easily accessible fitness services nationwide.

“Kuntokeskus Liikku represents a growth company that combines strong leadership, a clear strategy and an efficient business model,” says Antti Kummu, Managing Partner at CapMan Growth. “The Liikku team has built a successful player in the Finnish fitness market, with a concept, operational efficiency and growth prospects that make it an attractive investment opportunity. We are excited to support the company’s ambitious growth plans and further strengthen its market position.”

Kuntokeskus Liikku is led by its founder and CEO, Johanna Riihijärvi.

“I am very pleased that we are strengthening Kuntokeskus Liikku’s ownership base with the expertise and experience of CapMan Growth. With CapMan, we gain excellent support for the continued execution of our ambitious growth strategy, and we believe that CapMan’s experience in the commercial real estate market will also support Liikku’s growth as finding new premises becomes increasingly easier,” says Riihijärvi.

The company’s main shareholder is COR Group, a long-time partner of CapMan Growth. COR Group is a Finnish health and wellness conglomerate, known in its sector for active ownership and long-term value creation.

“Kuntokeskus Liikku has been part of COR Group’s growth strategy since 2016. We aim to achieve clear market leadership in the Finnish fitness sector, and to support growth and secure financing, we carried out an ownership restructuring. As a health and wellness group, we want to contribute to improving Finns’ muscular fitness and overall wellbeing on a significant scale,” says Ilari Kerola, one of COR Group’s founders and Chairperson of Liikku’s Board.

The investment is the sixth by the CapMan Growth Equity Fund III.

For more information:

Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.2 billion euros in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, real asset debt, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.

About Kuntokeskus Liikku

Kuntokeskus Liikku is a Finnish fitness centre chain with more than 70 locations across Finland. Liikku’s mission is to lower the threshold for starting gym training and to offer high-quality, fresh training facilities for people of all fitness levels at a reasonable price.

At Liikku, the best workout is the one that gets done. Regardless of your goals or starting point, every workout is equally valuable and deserves a motivating, supportive and relaxed training environment. The gyms are designed to ensure a smooth and enjoyable workout experience on every visit. Thanks to spacious and airy premises, you can train comfortably at your own pace, even during peak hours. A versatile range of equipment, free weights and comprehensive warm-up facilities serve both experienced gym-goers and beginners alike.

You can visit Liikku for a tour Monday to Wednesday from 4 pm to 7 pm. For more information, please visit www.liikku.fi/english.  

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Statement on Accell Group Ownership Transition

KKR

KKR invested in Accell in 2022 based on strong long-term fundamentals in sustainable mobility and increasing e-bike adoption across Europe. At the time of the investment, market conditions were supported by strong demand and supply constraints, and Accell’s portfolio of leading brands and market positions provided meaningful exposure to these structural growth trends.

Shortly thereafter, the European bike industry entered an unprecedented and prolonged downturn. Excess inventory, sustained discounting and weakening consumer demand created severe and persistent pressure across the sector, affecting manufacturers industry-wide. Throughout this period, KKR worked closely with Accell’s management team and acted as a supportive shareholder, providing substantial financial backing and deep operational expertise to help stabilise and strengthen the business.

Following constructive engagement, Accell Group, its shareholders and lenders have now agreed to a new ownership structure led by the company’s existing lenders to support the business in its next phase.

As part of this agreement, Accell will receive additional funding to ensure stability and give management the necessary runway to remain focused on operating the business. This capital will be directed toward strengthening liquidity, supporting day-to-day operations and positioning the company for the upcoming season as industry conditions continue to normalise.

During its ownership, KKR supported a wide-ranging programme of operational and organisational measures, consistent with KKR’s role as a long-term and responsible investor. This included continuing to support growth initiatives and new product launches, while strengthening leadership, improving liquidity and resilience, and centralising operations as part of the One Accell strategy. These actions were taken to ensure continuity of operations, support Accell’s customers and partners, and position the business for a return to sustainable profitability as market conditions normalise.

As a result of the severity and duration of the industry downturn, Accell’s capital structure evolved and lenders assumed greater economic responsibility for the business. With the company now stabilised and the season soon to pick up, Accell will transition to a new ownership structure in which lenders, working closely with management, are positioned to support the company’s ongoing recovery and execution of its business plan.

Jonas Nilsson, CEO, Accell Group said: “We would like to thank KKR for its significant support and commitment as a responsible shareholder throughout its ownership. The business is stronger as a result of that support, and we are well advanced in our plans to fundamentally transform the company. Accell is an extraordinary business, with a unique position in the European bike market and a portfolio of iconic brands, and we remain confident in its potential following the hard work undertaken during a challenging period for the industry.

KKR would also like to recognise the resilience and commitment shown by Accell’s management and employees throughout this challenging period.

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