Altor to invest in Marshall Group

Stockholm, 15/09/2023 – Altor Funds (“Altor”) have signed an agreement to acquire a significant minority stake in Marshall Group AB (“Marshall Group”), from funds advised by Varenne AB, Varenne Invest I AB, Zenith Venture Capital I AB, Zenith Venture Capital III AB as well as a large number of smaller investors.

Marshall Group is the audio, tech and design powerhouse uniting musicians and music lovers through genre-breaking innovation with Marshall, Marshall Records, Marshall Live Agency, Marshall Studio, Natal Drums, Urbanears, and adidas headphones. Marshall is active in more than 90 markets, with about SEK 4 billion of revenues and brings together around 800 talented people across eight locations globally.

The Marshall Group is currently on a strong, and profitable, growth trajectory, accelerated by the merger of Zound Industries and Marshall Amplification which formed the new Marshall Group earlier this year. Altor is excited to support the existing growth strategy set by Marshall’s management and board of directors.

“We have formed a strong and positive agreement with Altor that will enable us to move forward in harmony and fully unlock Marshall Group’s amazing potential with the management team. We’re excited about building on the Marshall legacy together and creating value for all shareholders.” says Henri de Bodinat, Chairman, Marshall Group.

“We have a long history of partnering with and supporting strong brands on international growth journeys, which is why we are very excited to partner with Marshall. We are highly impressed by what the company has achieved, its unrivalled market reputation, iconic brand, and strong management team and we look forward to working closely with the existing owners and management team to continue the Marshall growth journey.” says Andreas Källström Säfweräng, Partner and Head of the Consumer Sector at Altor.

“We’re pleased to welcome Altor to the Marshall Group and to continue building the best products and experiences for musicians and music lovers around the world to fuel our profitable growth momentum for years to come. The integration across the Marshall Group is going very well and we’re ahead of schedule to create the perfect conditions to come together as one team, with one shared ambition and strategy.” says Jeremy de Maillard, CEO, Marshall Group.


Closing of the transaction is subject to customary regulatory approvals.

About Altor

Since inception, the family of Altor funds has raised more than EUR 10 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, Trioworld, OX2, Vianode, Tibber, and Svea Solar. For more information visit

Press contact

Tor Krusell

Head of Communications

+46 705 43 87 47

Categories: News


Online print production house Probo is strengthening its shareholder base with investor NPM Capital | NPM Capital

NPM Capital

Online print production house Probo is strengthening its shareholder base with investor NPM Capital | NPM Capital

Probo has reached an agreement with the Dutch investment company NPM Capital to join its shareholder base. Probo, founded in 2001 and located in Dokkum, has grown into one of the largest and most innovative printing and fulfilment partners for resellers, with more than 25,000 m² of production space and 600 (400fte) employees. Probo wants to execute its strategic growth plans with support of NPM Capital.

Probo offers a unique online platform allowing print professionals to order customised printed products, such as banners, flags, stickers, posters, wall decorations and textiles. De Hoge Dennen Capital came on board as a shareholder in 2017, after which the company experienced significant growth. This was a direct result of a continuous focus on operational efficiency, innovation and a customer-oriented approach. Probo’s management team intends to accelerate the development of its success and growth by adding NPM Capital to the shareholder base.

The next step towards strategic growth
“NPM will allow us to take the next step in our strategic growth plans. This is a fantastic development for Probo and in particular for our resellers and employees,” according to Leon van der Meer, Probo’s Managing Director. “Probo has been industry leading for years and we have recently achieved a market leading position in our home market. We will continue investing in our services, logistics, sustainability and, of course, new printing products, technologies and finishes in order to maintain this position.”
Innovative capacity and focus on sustainability
Martijn Koster, Investment Director at NPM Capital: “Probo’s digital platform perfectly fits into our ‘Everything is Digital’ strategic investment theme. We view Probo’s focus on innovation, sustainability and automated B2B resellermodel as strong assets for the company’s continued growth and development. We’re certainly also impressed by the employees’ knowledge, skills and commitment and look forward to driving the company’s growth together with them.”

The intended transaction is subject to approval from the Netherlands Authority for Consumers and Markets (Autoriteit Consument & Markt).


Categories: News


Maria Nila Announces Partnership with L Catterton to Accelerate Growth and International Expansion


Categories: News


Butternut Box announces £280m investment from General Atlantic and L Catterton to feed more dogs across Europe


September 04, 2023, LONDON–(BUSINESS WIRE)–Butternut Box, the UK-based fresh dog food company known for its innovative approach to pet food, today announced it has raised £280m in its latest fundraising round from new investor General Atlantic, a leading global growth equity firm. Existing investor L Catterton, a leading global consumer-focused investment firm, also participated in the round, helping to further the brand’s presence in Europe and continue its mission to deliver fresh, tasty, and healthy meals to dogs around the world. The transaction’s closing is subject to customary regulatory conditions, but is expected to occur in Q4 2023.

Butternut Box is Europe’s largest fresh dog food brand, feeding dogs in the UK, Ireland, the Netherlands, Belgium, and most recently Poland following its April 2023 acquisition of PsiBufet, one of the leading fresh dog food companies in Central and Eastern Europe. Since its inception in 2016, Butternut Box has grown rapidly, raising over £100m to date including investments from L Catterton, White Star Capital, Five Seasons Ventures, Passion Capital, Literacy Capital, Claret Capital, and HSBC.

This latest investment will be used to build on this momentum, underscoring Butternut Box’s mission to deliver health and happiness to dogs and their humans. Butternut Box plans to use this funding to accelerate the Company’s leadership position across the Fresh category in the pet food space through further European expansion, including the development of a new European manufacturing facility. The planned facility will be the second of its kind for Butternut Box after Rudie’s Kitchen, a fully integrated manufacturing and fulfilment facility that opened in March 2021, giving the Company complete visibility and control over its emissions production. This further underlines the Company’s commitment to creating a positive impact across all areas of its business, as evidenced by receiving B Corp accreditation in September 2022.

Kevin Glynn, co-founder of Butternut Box, said: “We are delighted to now partner with General Atlantic, who is an incredible investor and shares our long-term vision of developing the category of Fresh pet food across Europe. It is also fantastic to receive further support from our long-standing partner, L Catterton who we’ve been proud to work with for several years now and who also believes in the power of Fresh and that we are only really at the starting line. Most notably we are incredibly excited by what this investment will unlock for our customers (dogs and humans) in the years to come as we are nothing without them.”

“We’re thrilled about the ways in which this investment will allow us to continue to live out our mission,” added David Nolan, co-founder of Butternut Box. “Everyone here is driven by a uniting purpose to deliver health and happiness to all dogs, everywhere. This investment will help us take the next leap forward in doing just that.”

“We are very excited to partner with Kevin and David who have reimagined Fresh pet food through Butternut Box’s diversified product portfolio and mission-driven brand,” said Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic. “There is an immense opportunity set across the Fresh pet food category in EMEA, and we believe Butternut Box is well positioned to leverage its digitally enabled business model to meet this growing demand. We look forward to utilising our pet expertise and technology capabilities to support the Company through its next chapter of growth.”

“Since partnering with Kevin, David, and the team three years ago, Butternut Box has expanded its leadership in the growing Fresh pet food space in the UK and Europe and has built a loyal following among pets and humans alike,” said Howard Steyn, a Partner at L Catterton. “While we have long had conviction in the UK Fresh category after investing behind this concept in the U.S., we’ve been particularly impressed by how Butternut Box continues to innovate and deliver such compelling value to its customers. We look forward to leveraging our global experience in the pet category to support the brand’s next phase of growth.”

Butternut Box is dedicated to serving only the highest quality, freshly–prepared meals for dogs, delivered straight to customers’ doors. With a core meals range of 12 fresh recipes, plus a growing selection of treats, chews and supplements, Butternut Box is delivering a fresh take on dog food.

Butternut Box was advised by Harris Williams and Orrick, Herrington & Sutcliffe LLP. Houlihan Lokey served as financial advisor and Freshfields served as legal advisor to General Atlantic. PwC served as financial advisor and Latham & Watkins served as legal advisor to L Catterton.

About Butternut Box

Butternut Box is a fresh dog food company founded by two friends, Kev & Dave. The two started the company after seeing the benefits that home-cooked food had on Dave’s poorly rescue dog, Rudie. Butternut’s mission is to deliver health and happiness to dogs and their humans all over the world. For more information, visit

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of June 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit:

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit

Butternut Box
Tom Lansdowne

General Atlantic
Liz McBain

L Catterton
Julie Hamilton

Categories: News


PAI Partners to acquire Alphia

PAI Partners

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces that it has agreed to acquire Alphia, Inc. (“Alphia”), one of the largest pet food co-manufacturers in North America, from J.H. Whitney Capital Partners (“J.H. Whitney”). Terms of the transaction were not disclosed.

Headquartered in Denver, Alphia is a leading national manufacturer of pet food in the U.S., manufacturing more than one billion pounds of dry pet food and treats annually on behalf of leading pet food brands and retailers. Alphia also provides milling, R&D, innovation, warehousing, transportation, and distribution services. The company has six manufacturing facilities across the U.S. and is the parent company of LANI, an ingredient milling solutions company, and Veracity, a warehousing and logistics provider. Combined, Alphia offers its partners complete farm-to-bowl custom solutions.

J.H. Whitney acquired Alphia’s predecessor, C.J. Foods, Inc., in 2014. Alphia was formed through the merger of American Nutrition, Inc. and C.J. Foods, Inc. in 2020 to create a national pet food manufacturing platform, delivering best-in-class food safety and unparalleled value for its customers.

This transaction underlines PAI’s expertise in the Food & Consumer sector and its particular experience in pet food and contract manufacturing, with representative investments in Royal Canin, Provimi, Diana Pet Food and Refresco. With the support of PAI, Alphia will seek to accelerate further North American growth, both organically and through acquisitions.

David McLain, CEO & President of Alphia, said: “We appreciate the many years of support and partnership with J.H. Whitney, during which time we created Alphia, one of the leading pet food co-manufacturing platforms in the world.  PAI is committed to our ongoing vision for growth and shares the common values of innovation, food safety and industry leadership.”

Bob Williams, a Senior Managing Director at J.H. Whitney, said: “We have had a great partnership with the Alphia management team.  Through deep investment in people, systems and facilities, with a constant focus on customers, Alphia has developed into a leading and pre-eminent co-manufacturer in the pet food industry. We are proud of the team and look forward to seeing Alphia continue its successful growth with PAI.”

Maud Brown, a Partner at PAI and Head of PAI’s US Team, said: “We are excited to announce our investment in Alphia, which represents our second platform in the U.S.  We are committed to building the PAI franchise in the U.S. and look forward to our continued growth and success in this market.”

Winston Song, a Partner at PAI and Consumer Lead in the U.S., said: “Alphia is a best-in-class company and plays an invaluable role in the value chain of pet food and treats, an exciting consumer category with strong secular tailwinds.  Pet parents continue to seek out innovation, quality and value – Alphia has set the industry standard as the trusted partner to many leading brands and retailers.  We look forward to partnering with David McLain and his mission-driven team as we continue to invest behind Alphia to grow and scale the platform.”

Completion is subject to customary closing conditions, including the receipt of certain regulatory approvals.

Goldman Sachs & Co. LLC acted as financial adviser to Alphia.  Gibson, Dunn & Crutcher LLP served as legal counsel to J.H. Whitney and Alphia, and Weil, Gotshal & Manges LLP served as legal counsel to PAI.

Media contacts

PAI Partners
Dania Saidam
+44 20 7297 4678

ICR (for PAI Partners)
Chris Gillick
+1 646 277 1298

About Alphia

Alphia® is a leading custom manufacturer of super-premium pet food in the U.S., manufacturing more than one billion pounds of dry pet food and treats annually. Customers choose Alphia as their trusted partner for offering unparalleled marketplace intelligence, providing research and development expertise, and delivering the safest, highest quality products on shelf. Alphia’s decades of leadership remain focused on safety, quality and consistently delivering growth for its customers, its employees, and their communities. Alphia has six (6) manufacturing facilities nationwide and is also the parent company of LANI, a world-class ingredient milling solutions provider, and Veracity, a logistics company providing warehousing, transportation, and distribution services. Combined, Alphia offers its partners complete farm-to-bowl custom solutions. For more information, visit

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. It manages c. €25 billion of dedicated buyout funds and, since 1994, has completed 100 investments in 12 countries, representing over €70 billion in transaction value.  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 about the PAI story, the team and their approach at:

About J.H. Whitney

J.H. Whitney (JHW), established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney, was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, JHW remains privately owned by its investing professionals and our main activity is to provide private equity capital to small and middle-market companies with strong growth prospects in a number of industries including consumer, healthcare and specialty manufacturing. Our investors include leading foundations, universities, pension funds and other institutions.

Categories: News


EQT Growth leads USD 85 million investment round into global corporate wellness platform Gympass

  • New York-based Gympass allows its base of over two million employee subscribers to access a global network of over 50,000 gyms, studios, classes, personal trainers, and wellness apps although though one employee benefit
  • The USD 85 million investment round will help Gympass accelerate growth across its 11 global markets, as employers prioritize decreasing healthcare costs and improving employee wellbeing
  • EQT Growth, in partnership with the company’s management team and existing investors, will support the company in the next leg of its growth journey, leveraging its in-house digital business development experts to continue to deepen Gympass’ network and global leadership

EQT is pleased to announce that the EQT Growth fund (“EQT Growth”) has invested in Gympass (or the “Company”), as part of its $85m Series F round. The round also saw participation from Neuberger Berman client funds and existing investors. Carolina Brochado, Deputy Head of the EQT Growth Advisory team, will join the Gympass Board.

Founded in 2012 and based in New York, Gympass is a leading corporate wellness platform, providings access to a network of over 50,000 gyms, studios, classes, personal trainers, and wellness apps through a single employee benefit. With over two million global employee subscribers, Gympass supports companies around the world to retain employees, drive productivity, and reduce healthcare costs.

Gympass has seen 80% year-on-year growth in its customer base over the last year, on the back of strong adoption tailwinds for its platform. For example, four out of five employees globally believe wellbeing is equally important to salary, according to the Gympass Work-Life Wellness Report 2022. As a result of its powerful platform, Gympass has more than doubled the average number of employees engaged with wellness at its corporate customers and has thereby grown the market, all while driving improved employee happiness and health.

EQT Growth will support Gympass in its next phase of growth, drawing on EQT’s presence in over 20 countries across the world. It will leverage its in-house digital business development experts, as well as its extensive network of industrial advisors to help Gympass continue to deepen its reach and global leadership. EQT Growth will also support further investment in the Company’s product capabilities.

Carolina Brochado, Deputy Head of the EQT Growth Advisory team, said: “For years we have watched the Gympass team exceed expectations again and again. Their powerful recurring model, which now reaches 11 markets globally, sees clear and strong network effects the more it scales. It enables Gympass to deliver a diverse and growing network of partners, thereby reaching employees who might not have previously had access to wellness activities and as a result further expanding the market. We are really excited to be helping this stellar management team continue to build a healthier, happier, and more productive corporate world.”

Cesar Carvalho, Co-Founder and CEO of Gympass, said: “We live in a time where companies globally are making investments to drive efficient growth and reduce spending. Organizations are shifting from reactive and traditional healthcare benefits that increase costs, to more holistic and preventative wellness benefits that reduce costs and improve employee wellbeing and productivity. With the support of EQT Growth and our other investors, we look forward to further accelerating our growth and reach so that we can improve the wellbeing of even more employees around the world.”

​​Finn McLaughlan,, +44 771 534 1608
EQT Press Office,, +46 8 506 55 334

About EQT Growth
EQT Growth supports leading growth-stage technology companies as they take the next step to scale. The strategy seeks to invest around EUR 50 million to EUR 200 million, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. Based in five countries across Europe, the EQT Growth team has extensive investing and operating experience that allows it to support its portfolio companies however called upon.

EQT Growth is part of EQT, a purpose-driven global investment organization with EUR 126 billion in fee-paying assets under management 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:
Follow EQT on LinkedIn, Twitter, YouTube and Instagram 

About Gympass
Gympass is one of the most loved corporate wellness platform, offering the best network of gyms, studios, classes, personal trainers, and wellness apps – all in one employee benefit. More than 15,000 companies use Gympass to help their employees move, eat, sleep, and feel better with access to fitness and wellness partners in subscriptions that cost up to 50% less than traditional memberships. Gympass more than doubles the number of employees engaged with wellness. This widespread participation results in workforces that are 40% less likely to turnover and save their companies up to 35% on healthcare costs. Investing in employee wellbeing is investing in company performance. Get started at

Categories: News


GlossGenius secures $28M in Series C Funding from L Catterton for its business-in-a-box platform serving SMBs in the beauty and wellness industry


Apollo Funds to Make Strategic Equity Investment in PetSmart

  • PetSmart is a leading omnichannel pet retailer in North America, providing an extensive range of pet products and services across more than 1,660 stores in the United States, Canada, and Puerto Rico
  • Apollo Fund investment underscores the robust fundamentals of PetSmart’s business and resilient performance across economic cycles
  • BC Partners and its co-investors to receive partial liquidity while maintaining majority ownership and control of the Board of PetSmart
  • Apollo will join BC Partners, as it continues to draw on its deep sector knowledge and strong operating capabilities, to support PetSmart’s management to continue delivering leading products and services to its more than 62 million loyalty members

PHOENIX and NEW YORK, July 24, 2023 (GLOBE NEWSWIRE) — PetSmart (or “the Company”), a leading omnichannel pet retailer in North America, announced today that funds managed by affiliates of Apollo (NYSE: APO) have entered into a definitive agreement to make a strategic equity investment in the Company. BC Partners, alongside co-investors including GIC and the PetSmart management team, will remain the majority shareholder of PetSmart and retain control of the Board.

The strategic investment by the Apollo Funds affirms PetSmart’s strong fundamentals and continued growth opportunity, as the Company drives operational excellence across its store network and builds a broader suite of products and services for pets and pet parents. The Apollo and BC Partners teams continue to see significant opportunities ahead, driven by PetSmart’s growth plans and an industry that continues to be a long-term net grower with increasing pet ownership and higher spend per pet. PetSmart is also differentiated from online-only peers thanks to a broad array of in-person grooming, training, and veterinary services, as well as proprietary brands and product lines.

BC Partners first invested in PetSmart in 2015, leading a group of investors to acquire the Company in a public-to-private transaction. The investment thesis, which continues to hold true today, was underpinned by the structural growth in pet ownership, the humanization of pets, and an increasing focus on animal wellness. PetSmart’s strong market position, robust profitability, and strong cash flow generation reinforces its growth strategy and the resilience of the business and industry.

Under BC Partners ownership, PetSmart and its management team have increased revenues by more than 40%, while investing in associates and industry-leading pet care. The Company’s commitment to continuous investment in learning and professional development for its associates ensures a happy and safe working environment, while delivering the highest standard of animal care. BC Partners’ owner-operator mindset and close, collaborative relationship with PetSmart leadership has helped guide strategic capital investment, including in digital and supply chain development, enabling the Company to deliver significant growth in revenue and profitability, with meaningful contribution coming from omnichannel sales.

“We are delighted to welcome Apollo as a strategic partner – affirming our growth and the strength of our associates’ commitment to doing anything for pets,” said J.K. Symancyk, President and CEO of PetSmart. “The combined expertise of BC Partners and Apollo enables even greater value creation opportunities as we embark on the next stage of growth for the business. We are grateful for the continued support of BC Partners, who have been our trusted partner for over eight years and look forward to working with the team at Apollo who bring the highest levels of expertise and whose vision for PetSmart aligns with our own.”

Apollo Partner Andrew Jhawar said, “PetSmart is an incredible, highly differentiated business in an industry that continues to see strong, sustainable growth across both pet ownership and pet care. We are big believers in PetSmart’s management team and store associates, as well as the Company’s growth strategy, operating model, and historical resiliency throughout market cycles, which gave us strong conviction to make this strategic investment alongside BC Partners, its co-investors and management. We are pleased to support PetSmart’s continued success as a meaningful shareholder moving forward, where we will utilize our demonstrated historical experience as a highly successful investor in the consumer, grocery, and retail sectors.”

Apollo Partner Salim Hirji said, “We are excited to be making this investment in PetSmart, an industry leader providing a wide breadth of products and services to pets and pet parents in communities across North America. We look forward to working with and supporting the Company’s management team and store associates as PetSmart embarks on its next phase of growth.”

Raymond Svider, Chairman of BC Partners, said: “We are in the midst of an incredible journey, which we are pleased to share with the entire PetSmart team. Our conviction in this business, close partnership with management, and the acumen of our investment and portfolio operations team have achieved a flagship investment for the firm, our limited partners, and all stakeholders. BC Partners has a long history of working in partnership with the Apollo team and we welcome the opportunity to do so again as we support PetSmart in the next stage of its growth.”

The transaction is currently expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

For BC Partners, JP Morgan served as financial advisor and Kirkland & Ellis LLP served as legal advisors. UBS Investment Bank served as financial advisor to the Apollo Funds and Simpson Thatcher & Bartlett LLP served as legal advisors.

Media Contacts

Noah Gunn
Global Head of Investor Relations
(212) 822-0540

Joanna Rose
Global Head of Corporate Communications
(212) 822-0491

BC Partners
Simren Priestley, Head of Communications
T: +44 20 7009 4722

Rob Litt, VP Corporate Communications
T: 1-763-670-1454

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit

About BC Partners

BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: TMT, Healthcare, Services & Industrials, and Consumer. Since its foundation, BC Partners has completed over 127 private equity investments in companies with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund.

For further information, visit

About PetSmart

PetSmart is the leading omnichannel pet retailer offering products, services and solutions for the lifetime needs of pets. At PetSmart, we love pets and we believe pets make us better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so together they can live more fulfilled lives. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities.

PetSmart operates over 1,660 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel® dog and cat boarding facilities. We provide a broad range of competitively priced pet food and products, as well as services such as dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp™ and pet adoption.

PetSmart, PetSmart Charities® and PetSmart Charities® of Canada work with nearly 4,000 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this in-store adoption program and other signature events, PetSmart has facilitated over 10 million adoptions, more than any other brick-and-mortar organization.

For more information, visit

Primary Logo

Source: Apollo Global Management, Inc.

Categories: News


Eurazeo invests in CTN Groupe through a sponsorless transaction


Eurazeo has recently invested in CTN Groupe via its Corporate Financing (Private Debt) business and its Eurazeo Corporate Relance (ECR) and NOVI 2 funds1. The aim of this new transaction is to continue and accelerate the company’s development.

CTN Groupe is a major player in the events industry. For more than 40 years, it has been designing and distributing decoration products and solutions (walls, ceilings, floors etc.) for a wide array of events. The group has 12,000 product lines and operates via an optimised, efficient logistics network that enables it to deliver most products on a next-day basis.

CTN Groupe has gradually diversified its business into adjacent sectors through the successful acquisitions of Bâches de France and Like Mirror, and through geographical expansion into the UK and Belgium.

CTN Groupe will pursue the development plan inspired by Olivier Langlois since his arrival in 2019. The plan mainly involves implementing a strategy based on profitable sales growth, digital transformation, CSR and acquisitions, between now and 2027.

Eurazeo now has carried out a €22.0 million sponsorless transaction to allow Indigo Capital to exit and to pass ownership to a new generation of operational managers, while allowing CTN Groupe to pursue organic growth and acquisitions in its core businesses.

In this transaction, CTN Groupe and the investors were accompanied by the group’s long-standing banking partners (BNP Paribas, LCL, CIC, La Banque Postale and BPI) as part of a refinancing of the company’s debt.

This is the fifth investment made by Eurazeo’s ECR fund since it was launched in 2022.

Categories: News


KKR Leads US$190 million Series C Round in Leading Korean Online Platform MUSINSA


ransaction includes participation from Wellington Management

SEOUL, South Korea–(BUSINESS WIRE)– MUSINSA, an online fashion platform in South Korea, and KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will lead the US$190 million Series C fundraise of MUSINSA (the “Company”), with participation from Wellington Management, one of the world’s largest independent investment management firms.

This press release features multimedia. View the full release here:

Founded in 2001 as an online sneaker community, MUSINSA is today an online fashion marketplace in South Korea that features more than 8,000 local and foreign designer brands and an in-house brand (musinsa standard), anchoring the creator economy for fashion in South Korea. Over the years, MUSINSA has expanded to include a comprehensive ecosystem including communities, a brand incubator (MUSINSA PARTNERS), a direct-to-consumer brand operator, and an offline multicultural lounge (musinsa terrace) that allows for offline interactions with its customers and provides online-based fashion brands with a physical space for pop-up stores. In 2023, Fast Company named MUSINSA as among the “10 most innovative Asia Pacific companies of 2023” for “globalizing K-fashion.”1

This transaction marks KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (“NGT”) strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across key themes, including software, consumer technology and FinTech.

Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific for KKR, said, “MUSINSA has developed itself as a top consumer Internet platform in Korea and a differentiated marketplace by its ability to scale rising brands, enable the creator economy for fashion, engage and provide a high-quality e-commerce experience for customers. We see enormous opportunity for MUSINSA to build on its leading position in a fast-growing K-fashion market that continues to shift online and expand globally on the back of K-culture’s explosive reach. We are excited to partner with the management team and look to leverage KKR’s global network, operational expertise, and deep technology experience to take MUSINSA to its next phase of growth.”

Munil Han, CEO of MUSINSA, said, “We are delighted to welcome global investors of KKR and Wellington’s caliber, which we see as a recognition of the quality of MUSINSA’s platform, and the potential of the Korean online fashion market. With this latest investment, MUSINSA looks to continue scaling our platform and creating new standards of success in the online and offline markets with domestic and foreign brands.”

This Series C is the Company’s third fundraise and follows its successful KRW 130 billion won Series B round in 2021 and KRW 100 billion won Series A round in 2019.

KKR makes its investment as part of its Asia NGT strategy and from funds managed by KKR. Other investments from the strategy include Lenskart, an omni-channel eyewear retailer in India; Advanced Navigation, a developer of AI-powered robotics and navigation technology in Australia; Privy, a digital identity provider in Indonesia; GrowSari, a business-to-business e-commerce platform serving small-and-medium enterprises (“SMEs”) in the Philippines; KiotViet, a software platform for SMEs in Vietnam; and NetStars, the operator of Japan’s largest QR code payment gateway. Additional details of the transaction were not disclosed.


MUSINSA is one of the largest online and offline fashion business companies in Korea, and offers more than 8,000 domestic and foreign brands, including young casual, street, contemporary, formal, sports, and luxury, etc. The company has more than 13 million members and recorded annual GMV of more than KRW 3 trillion won (US$2.35 billion) as of 2022. MUSINSA strives to expand the diversity of the fashion ecosystem based on the core value that the success of partner brands is our success. The company operates a fashion-specialized venture capital subsidiary to energize new brands with great potential to take a step forward in growth. MUSINSA has a diverse business portfolio, including its core service Musinsa Store, online lifestyle select shop 29CM, online re-sell platform soldout, and in-house fashion brand musinsa standard. Currently, MUSINSA, which has unrivaled influence as the No. 1 in the online fashion market in Korea, is concentrating on strengthening its capabilities to exert itself in the offline fashion business as well. MUSINSA is also operating a ‘global store’ that is available in 13 overseas countries, including Asia, America, and Oceania, to help small and medium-sized Korean brands advance overseas and to provide a point of contact for meeting global customers who are interested in Korean fashion. Since investing in the Envisioning Climate Solution Fund, MUSINSA has continuously paid attention to various social issues, including climate change, and is concentrating on fulfilling its social responsibilities as Korea’s leading fashion company.

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 and on Twitter @KKR_Co.

About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1 trillion for clients, including pensions, endowments and foundations, insurers, and global wealth managers. Wellington offers investment solutions that span global equity, fixed income, currency, commodity, alternatives, and private markets. Wellington Private Investing has raised nearly US$8 billion in global assets and invests in early-stage venture through late-stage growth across multiple sectors (consumer, technology, health care, financial services, biotechnology, and climate technology) and geographies (Asia, Europe, and the Americas). The Private Investing Team leverages Wellington’s 1,000+ investment professionals around the world, combining deep private market experience with public market expertise, extensive networks, and robust research to benefit both investors and entrepreneurs. For more on Wellington Private Investing, please visit

1 Fast Company (February 2023). The 10 most innovative Asia-Pacific companies of 2023.


MUSINSA Public Relations Team
+82 10 8921 8381

For KKR:
Wei Jun Ong
+65 6922 5813

For Wellington Management:
Robyn Tice
617 289 6739

Source: KKR

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