Kebek Invests in Janzen

Kebek

JANZEN, the leading Dutch home and body lifestyle brand, is joining forces with KeBeK Private Equity as a strategic partner and majority shareholder, as well as with &C Media and Chantal Janzen as key ambassador, to strengthen its leadership in the Netherlands and accelerate international growth in Belgium and Germany. Oisterwijk

(The Netherlands), 20 October 2025 KeBeK Private Equity acquired a majority stake in JANZEN. Founder Gertjan Schot and CEO Ivo van Ierland remain on board. At the same time, the collaboration with &C Media is strengthened and a new partnership with Chantal Janzen as key ambassador has been concluded. Chantal Janzen is also becoming shareholder of the company.

JANZEN is a Netherlands-based affordable luxury brand offering home and body products to consumers mainly via a B2B network of 1,000+ specialised retailers (ex: Douglas, PourVous, DA, Etos). Additional sales are realised in corporate gifting, e-commerce channels and a flagship store in Den Bosch.

The company was founded in 2010 by Gertjan Schot (CEO until 2022), as a local offline brand offering home fragrances, and has since developed into a well-known omni-channel brand in The Netherlands. JANZEN became also active in Belgium in 2021and in Germany in 2022. Chantal Janzen Its branded portfolio comprises over 220 SKUs over 3 categories being home and body products, and gift sets, across 15 fragrance collections (including a For Men collection since 2023). The product portfolio includes amongst others shower foams and gels, hand care products, scrubs, deodorants, and body lotions and creams, as well as fragrance sticks and candles.

The Company has strong commitments to sustainability through eco-friendly sourcing, production free from microplastics, biodegradable packaging. The various products contain no parabens, silicones, or mineral oils and are not tested on animals. JANZEN operates from Oisterwijk. 10 kilometres north of Tilburg, with about 33 employees.

Led by CEO Ivo van Ierland since 2022, JANZEN realised strong (double-digit) growth in the recent years, benefiting from initiatives in product development, widening sales channels, internationalisation plans and innovative marketing. With this new partnership, JANZEN aims to accelerate its growth ambitions. In The Netherlands, focus will remain on reaching more consumers via a qualitative widened B2B retailers’ channel. In addition, management targets to build a repeatable B2B corporate gifting offer and to leverage full D2C (direct-to-consumer) potential in e-commerce. International growth will focus on expansion in Germany and in Belgium. Product development and innovation will stay at the centre of the commercial growth strategy. At the same time, JANZEN is intensifying its collaboration with &C Media and Chantal Janzen. Chantal Janzen will act as key ambassador for the JANZEN brand and play an important role in contributing to the collections and brand visibility.

More information about JANZEN: www.janzen.com or JANZEN Instagram.

JANZEN is the second investment of the KeBeK IV fund, which is currently in fundraising for a target fund size of €75m. JANZEN shareholders Gertjan Schot and Ivo van Ierland were assisted by Nielen Schuman (M&A advisor), Vriman (legal advisor) and Alvarez & Marsal (financial and tax advisor) in this transaction. KeBeK Private Equity was assisted by LDS Advisory (strategic advisor), De Metz (legal advisor) and BDO (financial and tax advisor) in this investment.

Ivo van Ierland, CEO at JANZEN: “We are very pleased and proud with this new strategic partnership together with KeBeK and Chantal Janzen. I am convinced that we will accelerate our growth ambitions by strong new product development, even more impactful marketing campaigns and intensifying our strategic wholesale partnerships. Our aim is strengthening our position in The Netherlands and strongly building the brand and its visibility in Germany and Belgium. Next to this, our D2C channels will get a more prominent priority going forward. Very exciting JANZEN times!”

Gertjan Schot, founder of JANZEN: “I am very proud that JANZEN has partnered with KeBeK and Chantal Janzen. We have found a partner in KeBeK who aligns with JANZEN’s culture in which JANZEN has given all freedom to follow the path to continue JANZEN’s growth. With great confidence I see JANZEN’s future is secured and that Ivo, together with the entire team, will lead JANZEN to become a key player in the European home & body Lifestyle market.

Chantal Janzen, founder of &C Media: “Our partnership with JANZEN and &C Media has been very successful for many years now. This partnership will open up new possibilities and include my personal involvement in product development and promotion. I’m very excited to be part of this and reach more people with this beautiful home & body lifestyle brand!”

Gert Van Huffel, Floris Vansina, Edouard Verhoustraeten of KeBeK Private Equity: “We are very impressed with JANZEN’s growth trajectory and development over the last years. JANZEN boasts a strong brand identity and an established and complementary sales network, with satisfied consumers. With Gertjan, Ivo, Chantal and the dedicated JANZEN team, we aim to further develop and expand the activities of JANZEN.”

For more information:

About JANZEN – www.janzen.com – JANZEN Instagram

Contact: Ivo van Ierland (ivo.vanierland@janzen.com) or Gertjan Schot (gertjan@janzen.com)

About &C Media and Chantal Janzen – www.andc.tv – &C Media – Chantal Janzen Instagram &C Media is a Dutch media brand founded by Chantal Janzen and her husband Marco Geeratz.

The company was founded in 2017 and has since been operating as an independent television producer and publisher of the magazine &C. Chantal Janzen is a Dutch actress, musical actress, presenter, singer and television producer who has appeared in musicals such as 42nd Street, Saturday Night Fever, Beauty and the Beast, Hij Gelooft in Mij and Tarzan. Since 2005, she has also presented various television programmes, including Beat the Champions and Oh, wat een jaar! In addition to being a presenter, she is a judge on Holland’s Got Talent. In 2017, Chantal launched &C Media.

About KeBeK Private Equity – www.kebek.be – KeBeK Private Equity Linkedin

Contact: Gert Van Huffel (gert.vanhuffel@kebek.be) or Floris Vansina (floris.vansina@kebek.be)

KeBeK Private Equity is an independent private equity firm investment. It was founded in 2012 by 4 Partners working now together for 20+ years since their time at KBC Private Equity.

We invest in healthy SMEs looking to grow to their next phase. Companies are based in the Benelux, often active in attractive niche segments, and have significant potential for value enhancement. We focus on partnerships with families and entrepreneurs in “primary” deals. Next to supporting companies, transactions with KeBeK are often a solution for transition of capital and management, and an attractive alternative to keep independence.

When supporting companies and management teams, we focus on value creation strategies combining (i) organic growth, (ii) reinforcement of organization and processes, and (iii) buyand-build or consolidation plays. With around 30 acquisitions executed and over 30 add-ons realised since 2012, KeBeK has a demonstrated track-record of investing and creating (operational) value for its portfolio companies.

KeBeK is backed by a broad investor base, consisting of Belgian, Dutch and international institutional investors, family offices and wealthy individuals being mainly entrepreneurs.

JANZEN is the second investment of the KeBeK IV fund, which is currently in fundraising for a target fund size of €75m. Previous investments of KeBeK funds include Flexfurn (flexible furniture to the event industry – 2024), Capenti – Schelstraete Delacourt (Executive search and interim management services – 2021), Borek (outdoor and garden furniture – 2020), Richa (motorcycle gear and accessories – 2018), among others.

 

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Hop Lun Expands Global Manufacturing Capabilities With Strategic Acquisitions in Morocco

Platinum

Sketching | Platinum Equity

New plants will further diversify Hop Lun’s global supply chain

 Upon closing, the company will have completed three acquisitions this year and five since 2022

HONG KONG (October 17, 2025) – Hop Lun, one of the world’s largest designers and manufacturers of intimate apparel and swimwear, announced today the signing of definitive agreements for two acquisitions that will create a new manufacturing platform for the company in Morocco. The deals are subject to customary closing conditions and are expected to be completed during the fourth quarter of 2025.

The agreements include:

  • The acquisition of Tobago, a Morocco-based premium manufacturer of corsetry, lingerie, and swimwear that primarily supplies French and other European manufacturers who serve global customer bases. The company operates a 3,000 square-meter facility in Casablanca that produces approximately 1 million pieces per year. Established in 1996, Tobago’s founders have committed to staying on to assist with the transition and integration process.
  • The acquisition of the Chantelle Group’s Morrocco operations, comprising its Famaco and Atma manufacturing facilities, which currently produce ~1.4 million pieces per year. Founded in 1876 and headquartered in Paris, Chantelle is one of the most established luxury lingerie brands in the world. Chantelle will remain a customer of Hop Lun post close.

Combined, the addition of the three manufacturing facilities in Morocco will add approximately 800 skilled employees to Hop Lun’s global team. The combination of these two Moroccan businesses creates a unified platform that delivers scale, infrastructure, local leadership, credibility, and customer access.

“We have great respect for both of these businesses and their owners. We believe Morocco offers compelling advantages for Hop Lun’s customers in Europe, including high-quality production capabilities, a skilled workforce, and faster replenishment cycles.”

Jacob Kotzubei, Co-President and Matthew Louie, Managing Director, Platinum Equity

In the upcoming weeks, Hop Lun will begin collaborating with future colleagues and partners to ensure a smooth and effective transition. The transactions are expected to close by year-end and mark another critical milestone in Hop Lun’s continued international growth.

Based in Hong Kong, Hop Lun, a portfolio company of Platinum Equity, currently employs more than 30,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.

Erik Ryd, Executive Chairman of Hop Lun, said:

“We are thrilled to welcome the Moroccan teams into the Hop Lun family. This acquisition reflects our belief in the strength and potential of the local workforce, and our excitement about the opportunities ahead. Morocco offers a dynamic platform for growth, and we’re committed to investing in its future.

This acquisition follows three successful integrations across diverse geographies and cultures, reinforcing Hop Lun’s ability to navigate transitions with care, respect, and long-term vision. I’ve seen firsthand how our teams come together across borders to create something stronger and I’m confident we’ll do the same in Morocco.”

Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie said in a joint statement:

“We have great respect for both of these businesses and their owners. We believe Morocco offers compelling advantages for Hop Lun’s customers in Europe, including high-quality production capabilities, a skilled workforce, and faster replenishment cycles. We are proud to support Hop Lun’s continued growth and diversification and will continue working with Erik and the company’s leadership team to pursue additional opportunities to grow both organically and through strategic M&A.”

The two Moroccan transactions will represent the fourth and fifth acquisitions Hop Lun has completed since Platinum Equity acquired the business in 2022.

Earlier this year Hop Lun acquired Lintas, expanding the company’s manufacturing footprint in Bangladesh and strengthening its ability to serve the European market.

In 2024, Hop Lun acquired PH Garment, which added three manufacturing facilities in Bangladesh and China and expanded Hop Lun’s capabilities producing bonded products.

In December 2023 Hop Lun acquired Rainbow West Apparel, a Los Angeles-based company with roots in both swimwear and outerwear.

About Hop Lun

Founded in 1992, Hop Lun is a leading global manufacturer of women’s intimate apparel, with operations across Asia, Europe, and the Americas. The company is known for its customer-centric approach, innovative design, and commitment to ethical and inclusive manufacturing.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 500 acquisitions.

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The Apax Digital Funds to acquire atHome Group, Luxembourg’s leading property and automotive marketplace, from Mayfair Equity Partners and Oakley Capital.

Apax

The Apax Digital Funds, the tech growth equity funds advised by Apax Partners LLP (“Apax”), today announced that they have reached a definitive agreement to acquire a controlling stake in atHome Group (“atHome” or the “Company”) from funds advised by Mayfair Equity Partners LLP and Oakley Capital.

atHome operates Luxembourg’s leading property and automotive marketplaces, with fast-growing financial services spanning mortgages, insurance and tax, helping consumers through all stages of a transaction. It is the preferred destination for both buyers and sellers, and the platform enjoys materially higher traffic and deeper content engagement than its closest peers, as well as a high proportion of exclusive listings.

Over the last five years, atHome has continued to gain market share and solidify its position as the undisputed classifieds leader across property and auto verticals in Luxembourg, as well as expand its proposition into adjacent financial services.

Bertie Aykroyd, Partner at Mayfair Equity Partners, said: “Soufiane and the atHome team have built an exceptional business with strong market leadership. We are proud to have partnered with such a great team and look forward to seeing atHome’s continued success in its next chapter.”

Peter Dubens, co-Founder and Managing Partner at Oakley Capital, said: “We’re pleased to see such a strong outcome for Soufiane and the atHome team. From our initial acquisition of atHome via a corporate carve-out to our partnership with Mayfair, atHome has grown into a digital market leader and consumer champion, with a bright future ahead.”

Soufiane Saadi, CEO of atHome Group, said: “I want to thank Mayfair Equity Partners and Oakley Capital for their support over the last few years, supporting our ambition to grow into a unique digital ecosystem. Today’s announcement marks an exciting milestone for our Company. I’m delighted to partner with Apax, who have an enviable reputation investing in online marketplaces and classifieds. We look forward to continuing this journey of innovation and growth with Apax.”

Mark Beith, Partner at Apax Digital, said: “We’ve admired atHome for many years, and are thrilled to partner with Soufiane and his talented team to invest further in product, data and AI, and go-to-market initiatives and take an already market-leading platform to the next level.”

Steve Kooyers, Partner at Apax, added: “This will be the Apax Funds’ fifteenth marketplace investment, and we look forward to leveraging our experience investing in and operating leading online marketplaces to support management in delivering atHome’s next phase of growth”.

The Apax Funds have a strong track record investing in online marketplaces, including: Auto Trader Group – the UK’s largest digital automotive marketplace; idealista – Spain’s leading online property portal; the Baltic Classifieds Group – the leading property, automotive, jobs, and generalist portals in the Baltics; and Trade Me, the leading online marketplace in New Zealand. Apax intends to partner with atHome to accelerate product innovation, enhance the customer experience for consumers, agents and dealers, and build on the Company’s category leadership and attractive market dynamics in Luxembourg.

The transaction is subject to customary closing conditions and is expected to close in Q4 2025. Financial terms were not disclosed.

Rothschild & Co acted as exclusive financial advisor to atHome Group and the Company’s shareholders. Debevoise & Plimpton LLP provided legal advice to atHome Group and its shareholders. Simpson Thacher & Bartlett LLP provided legal advice to Apax.

 

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PAI Partners completes a €3.6 billion equity transaction to reinvest into Froneri, including significant co-investment from ADIA and new single-asset continuation vehicle led by Goldman Sachs Alternatives

PAI Partners

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces the successful completion of a €3.6 billion equity transaction and the establishment of a new ownership structure for its c. 50% stake in Froneri (the “Company”), the global pure-play leader in ice cream.

As part of establishing the new ownership structure, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will become a significant minority co-investor in Froneri, alongside PAI and a new single-asset continuation vehicle (the “CV”). The CV constitutes one of the largest single asset CV transactions in Europe to date, led by Vintage Strategies at Goldman Sachs Alternatives.

The CV was oversubscribed, reflecting strong demand from both existing and new investors, and confidence in Froneri’s long-term growth prospects. This follows the Company’s successful debt financing earlier this year, further strengthening its balance sheet and supporting its future expansion.

Froneri was formed in 2016 through a 50:50 joint venture to combine PAI’s R&R Ice Cream with Nestlé’s European ice cream business. Since then, it has been transformed from a predominantly European, private-label producer into a brand-led, global business with €5.5 billion in revenue.

Today, Froneri is a leader in each of its core markets, combining a portfolio of iconic ice cream brands with strong innovation capabilities and operational expertise. It also holds leading positions in the fast-growing snacking and premium segments, supported by trusted brand partnerships and a well-invested supply chain.

Going forward, Froneri has an opportunity to further build on this performance by leveraging its established value-creation playbook, focusing on robust organic growth, operational efficiency and strategic market consolidation.

Frédéric Stévenin, Co-Managing Partner at PAI Partners, said: “Froneri is a clear example of PAI’s ability to create and grow global champions in the consumer sector. Since we first partnered with Nestlé in 2016, the business has successfully expanded into new markets, strengthened its branded portfolio and established itself as a global leader. This success is also a testament to the strength and commitment of Froneri’s management team. We are proud to continue our journey with Froneri and Nestlé, and to welcome ADIA and other leading global institutions as shareholders for Froneri’s next phase of growth.”

Phil Griffin, CEO of Froneri, said: “Froneri has grown into one of the world’s leading ice cream companies since its formation in 2016. The renewed commitment of our partners, combined with the addition of new investors and capital, reflects confidence in our business and reinforces the strong partnership that underpins our growth. We look forward to building on this momentum in the years ahead.”

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said: “Froneri is a leading global consumer business with strong prospects for the future. This transaction offers a compelling opportunity to support the Company for its next phase of growth alongside experienced and proven partners.”

Gabriel Mollerberg, Managing Director at Goldman Sachs Alternatives, said: “We are excited to continue the journey with Froneri and partnership with PAI as the lead investor in the new continuation vehicle. Froneri’s market positioning, attractive financial characteristics, exceptional operational execution and strong alignment with all key shareholders made it a strong continuation vehicle candidate. We look forward to this next chapter alongside PAI and management.”

Evercore acted as the sole financial adviser to PAI on the CV transaction. Rothschild acted as corporate finance advisers to Froneri. Deutsche Bank acted as an exclusive financial adviser to ADIA.

Contacts

PAI Partners
Dania Saidam
+44 20 7297 4678

Abu Dhabi Investment Authority
Garry Nickson
+971 2 415 6085

Goldman Sachs Alternatives
Joseph Stein
+44 207 774 4080

About Froneri

Froneri is a leading global pure-play ice cream manufacturing company with a track record of operational excellence, a portfolio of iconic and much-loved brands and a significant presence across snacking markets in Europe, the US and the rest of the world. The business was created in 2016 as a joint venture between PAI Partners and Nestlé, and today is present in 25 countries, with annual revenue of more than €5.5 billion and over 12,000 employees worldwide. https://www.froneri.com/.

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has more than €28 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised more than €33 billion in proceeds from over 60 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.

About ADIA

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information: https://www.adia.ae.

About Vintage Strategies at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. Established in 1998, Vintage Strategies at Goldman Sachs Asset Management has invested over $80 billion since inception and has been a pioneer in the industry. The business provides liquidity, capital and partnering solutions to private market investors and managers worldwide across private equity strategies. Follow us on LinkedIn.

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Carlyle Announces the Listing of Orion Breweries on the Prime Market of the Tokyo Stock Exchange

Carlyle

Tokyo, Japan, 25 September 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced the listing of Orion Breweries (“Orion”), one of Japan’s leading breweries, on the Prime Market of the Tokyo Stock Exchange. As part of the IPO, Carlyle has sold its entire stake in Orion, assuming full exercise of the over-allotment option.

Founded in 1957 in Okinawa, Orion has over 60 years of history as a brewery and is today recognized as the region’s leading beer brand. Known for its flagship “Orion” branded beer, the company produces and sells a range of alcoholic beverages and soft drinks while also operating a hotel and tourism business.

Carlyle, alongside Nomura Capital Partners, acquired Orion in 2019 and have since worked closely with Orion’s management team to develop and execute a long-term growth strategy aimed at enhancing the company’s brand and driving sustainable growth. This has been achieved through strengthening the company’s management through the appointment of new talent, capturing tourism demand in Okinawa while also expanding the brand overseas, and enhancing manufacturing capacity and optimizing of the supply chain.

Takaomi Tomioka, Co-Head of Carlyle Japan, said: “It has been a real pleasure to work with Murano-san and the Orion management team to grow a much-loved brand. We are grateful to the company’s employees and stakeholders, including the people of Okinawa, for their trust and support. Today’s listing is an important milestone for the company and we wish them continued success in the years ahead.”

Hajime Murano, President and CEO of Orion, said: “We have received invaluable strategic guidance from Carlyle following their investment in 2019 that has contributed significantly to enhancing our corporate value. We are grateful for their support and dedication, which ultimately led to Orion’s listing on the Prime Market of the Tokyo Stock Exchange. Looking ahead, we remain committed to building a brand rooted in its Okinawan heritage that brings smiles to people around the world.”

Carlyle’s Japan buyout platform has invested more than JPY 600 billion across approximately 40 private equity investments since 2000. Orion represents the tenth portfolio company of Carlyle’s Japan buyout platform to become a listed company in the region, and follows the IPO of Rigaku Holdings Corporation in October 2024.

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About Carlyle 
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

This press release does not constitute an offer to sell, or a solicitation, or an invitation to trade securities in Japan, the United States or any other state or applicable jurisdiction. Securities of Orion Breweries may not be offered or sold absent required registration or qualification under the securities laws of applicable states or jurisdiction or an exemption from such registration(s). Any public offering of securities to be made in Japan,  the United States or any other state or other jurisdiction will be made by means of a prospectus that may be obtained from Orion Breweries and that will contain detailed information about the Orion Breweries and its management, as well as financial statements. This press release has not been reviewed or approved by any regulator or securities exchange and is for information purposes only. All information and statements provided herein are as of the date of this press release and Carlyle is under no obligation to update any statement.

 

Media Contacts

Carlyle

Andrew Kenny
+44 7385 662334
andrew.kenny@carlyle.com

Kaede Haseda
+81 80 4209 1053
kaede.haseda@carlyle.com

 

Brunswick Group

Masato Ui / George Ohyama
+81 80 6538 2109 / +81 80 7340 1015
carlylejp@brunswickgroup.com

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Bain Capital Invests in Les Hôtels de Paris, a Prominent French Hotel Owner and Operator

BainCapital

LONDON – September 22, 2025 – Bain Capital, a leading global private investment firm, today announced its investment into Les Hôtels de Paris (part of Machefert Group), a distinguished owner and operator of boutique French hotels. This transaction represents a significant step forward in Bain Capital’s strategic growth in the European hospitality sector.

Les Hôtels de Paris, advised by Wingate Investment Bank, owns a portfolio of 18 prime hotels, with 17 centrally located in Paris and one in St. Tropez and demonstrates Bain Capital’s commitment to investing in high-quality, strategically positioned real estate within Europe’s fragmented hospitality sector. This transaction significantly enhances Bain Capital’s presence in France and highlights the team’s expertise in delivering complex real estate capital solutions.

Bain Capital will leverage its extensive expertise and resources to drive operational excellence and unlock value throughout Hôtels de Paris’ portfolio.

Rafael Coste Campos, a Partner at Bain Capital, commented: “This investment is a natural extension of our hospitality strategy, reflecting our strong conviction in the enduring fundamentals of the European market and our ability to foster operational improvements and sustainable growth. We look forward to partnering with the talented Les Hôtels de Paris team.”

Kevin Machefert, CEO at Les Hôtels de Paris, commented: “Partnering with Bain Capital marks an exciting new chapter for Les Hôtels de Paris. With their support and expertise, we are optimistic about the future and confident in our ability to accelerate growth, reinforce our position in the French hospitality market and become the leading independent experiential and boutique hospitality player in the region.”

Stephane Cohen, Founding Partner at Wingate, added: “At Wingate Investment Bank, we are proud to have structured this transaction and introduced Bain Capital as a partner to Les Hôtels de Paris, putting the group back on solid ground. This alliance restores Les Hôtels de Paris’ strength in the French hospitality market and opens the way for both organic growth and strategic expansion.”

White & Case served as legal advisor, PwC served as financial and tax advisor, HPM served as technical advisor, CBRE served as commercial advisor to Bain Capital.

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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 $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Les Hôtels de Paris

Founded in 1992, the Machefert Group is a family-owned and independent player in the hospitality and catering sector. With 16 hotels, seven restaurants, five bars, three speakeasies, and a private beach, spread across Paris, Saint-Tropez, Ramatuelle, and Marrakech, the Group now employs over 300 staff dedicated to delivering a distinctive and authentic guest experience. Machefert Group has developed a unique vision of boutique hospitality: a new-generation, creative, immersive, and independent approach, at the heart of the most beautiful urban and seaside destinations.

 Europe

 Jason Lobo

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Platinum Equity to Acquire PlayPower

Platinum

LOS ANGELES (September 15, 2025) – Platinum Equity announced today that it has signed a definitive agreement to acquire PlayPower, one of the world’s leading designers and manufacturers of recreational and outdoor living systems, from Littlejohn & Co, LLC (“Littlejohn”).

Financial terms were not disclosed. The transaction is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions.

“PlayPower is a market leader with a strong portfolio of trusted brands and an international manufacturing and distribution network. We believe the company is well positioned to benefit from increased investment in outdoor spaces and recreational infrastructure, and we look forward to supporting its continued growth.”

Jacob Kotzubei, Co-President, Platinum Equity

Headquartered in Huntersville, North Carolina, PlayPower designs and manufactures a wide range of products for outdoor recreation and living, including playground systems, recreational equipment, and related solutions, serving key end markets such as schools, parks and recreation, commercial and industrial facilities, residential communities, marine environments, and hospitality venues. The company maintains an international footprint with manufacturing and distribution facilities across North America and Europe, enabling efficient delivery, reduced transit times, and compliance with regional regulatory and design standards.

“PlayPower is a market leader with a strong portfolio of trusted brands and an international manufacturing and distribution network,” said Jacob Kotzubei, Platinum Equity Co-President. “We believe the company is well positioned to benefit from increased investment in outdoor spaces and recreational infrastructure, and we look forward to supporting its continued growth.”

“There is a significant opportunity to grow PlayPower both organically and through strategic M&A,” said Nathan Eldridge, Managing Director at Platinum Equity. “We see potential to expand in core product categories like outdoor play and shade, while also pursuing adjacent markets. Our goal is to accelerate PlayPower’s transformation into a scaled, multi-brand platform with broad end-market reach, complementary product coverage, and enhanced manufacturing and distribution capabilities.”

PlayPower CEO Bryan Yeazel is expected to continue leading the company after the transition to new ownership.

“We are excited to partner with Platinum Equity as we enter this next chapter,” said Yeazel. “Platinum’s operational expertise and experience building global platforms will help us accelerate growth, innovate for our customers, and continue delivering exceptional products and services. Littlejohn has been an exceptional partner to the company and we are grateful for their support and collaboration.”

“This transaction represents the culmination of a successful partnership with Bryan Yeazel and the PlayPower leadership team,” said Brian Ramsay, Managing Partner and President at Littlejohn.  “Bryan and the team responded to the operational challenges of COVID and drove growth in its core business lines, both in the U.S. and Europe.  We wish Platinum and the PlayPower team much success.”

Goldman Sachs is serving as financial advisor to Platinum Equity, and Simpson Thacher & Bartlett LLP is serving as legal counsel to Platinum Equity.

Lincoln International is serving as financial advisor to Littlejohn, and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Littlejohn.   Jamieson Financial is serving as advisor to the company’s executive management team.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions.

About Littlejohn & Co.

Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments in growing middle-market industrial and services companies that can benefit from Littlejohn’s 25+ years of operational and sector expertise. With approximately $8 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.

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Platinum Equity’s Credit Team Leads Financing for Kodak Alaris

Platinum

LOS ANGELES (September 5, 2025) – Platinum Equity announced today it led a recapitalization for Kodak Alaris.

Headquartered in Rochester, NY, Kodak Alaris operates two business units: Kodak Moments, a global provider of film and photo solutions; and Alaris, a leading global provider of data capture and processing solutions to enterprises and consumers. The company is owned by Kingswood Capital Management, LP.

“This transaction reflects Platinum’s ability to move quickly and decisively, even in a complex market. Our industry expertise and commitment to partnership allowed us to craft a bespoke financing solution for Kodak Alaris.”

Jacob Kotzubei and Louis Samson, Co-Presidents, Platinum Equity

“This transaction reflects Platinum’s ability to move quickly and decisively, even in a complex market,” said Co-Presidents Jacob Kotzubei and Louis Samson. “Our industry expertise and commitment to partnership allowed us to craft a bespoke financing solution for Kodak Alaris.”

The Kodak Alaris financing was led by Platinum Equity’s dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

“We aim to be a true strategic partner, leveraging Platinum’s resources to deliver meaningful value to borrowers and their sponsors,” said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. “We think Kodak Alaris is a great match for our approach. It’s a mature business with an iconic brand and a deep connection to its customer base. We believe it also has a lot of untapped commercial opportunity. We are excited to partner with Kingswood to help Kodak Alaris realize its potential.”

Platinum’s credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

“Our credit team is actively looking for new opportunities to provide tailored financing solutions to borrowers and their sponsors as they pursue their strategic objectives,” added Fabiano.

Houlihan Lokey acted as the exclusive placement agent to Kodak Alaris.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions and debt financings.

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VSP Vision enters into definitive agreement to acquire Marcolin from PAI Partners and other minority shareholders

PAI Partners

RANCHO CORDOVA, Calif. and LONGARONE, Italy – VSP Vision™ announced today it has entered into a definitive agreement to acquire Marcolin from PAI Partners, a pre-eminent private equity firm, and other minority shareholders. The acquisition of Marcolin, a global leader in eyewear design, manufacturing, and distribution, will mark a significant eyewear investment by VSP Vision to provide even more value to its stakeholders.

“The addition of Marcolin is another example of our commitment to purposeful growth that will provide greater value for VSP members, clients, doctors, and key customers,” said VSP Vision President and CEO Michael Guyette.  “With a portfolio of some of the world’s most sought-after brands and advanced in-house manufacturing capabilities, Marcolin will strongly complement our existing offerings through Marchon Eyewear as we continue to deliver high-quality eyewear that meets diverse and evolving global customer needs.”

Founded in Northern Italy in 1961, Marcolin today distributes its eyewear collections in more than 125 countries. Its portfolio of luxury and lifestyle brands includes Tom Ford, Zegna, Christian Louboutin, ic! berlin, Max Mara, Guess and many others.

“With a shared passion for bringing the highest quality eyewear to as many people as possible, joining VSP Vision is a perfect fit,” said Fabrizio Curci, CEO & General Manager of Marcolin. “We look forward to combining our expertise, focus on craftsmanship, commitment to product innovation and complementary portfolios and geographic presence to give customers the very best in eyewear and service.”

With the backing of PAI, Marcolin broadened its international reach and enhanced operational efficiency, establishing itself as a leading player in the wholesale eyewear market. Under PAI’s ownership, Marcolin’s performance has advanced significantly, supported by a strong focus on commercial excellence, a strategic corporate reorganization, and the expansion of its brand portfolio through targeted acquisitions, new licensing agreements and key renewals.

“We are delighted to have backed Marcolin’s transformation into a world leader in the wholesale eyewear business”, said Raffaele Vitale, Partner at PAI. “We are grateful to the management team for their partnership and are confident that Marcolin is well positioned to continue thriving in the years ahead, with plenty of runway for growth and a portfolio of iconic brands.”

CapM Advisors acted as the exclusive financial advisor, and Latham & Watkins acted as the legal advisor to the shareholders of Marcolin. Kirkland & Ellis LLP and Chiomenti acted as legal advisors to VSP.
The transaction is expected to close in the fourth quarter of 2025 and is subject to customary regulatory approvals.

About VSP Vision

At VSP Vision™, our purpose is to empower human potential through sight. As the first national not-for-profit vision benefits company, this is what drives everything we do. For 70 years, VSP® has been a leader in health-focused vision care. Every day, the people that power our complementary businesses across vision benefits, eye care services, eyewear solutions, and practice solutions, work together to create a world where everyone can bring their best vision to life. That means providing affordable access to eye care and eyewear for more than 85 million members through a network of more than 42,000 doctors. It also means expanding access to vision care to those disadvantaged by income, distance, or disaster through VSP Vision Eyes of Hope®. To date, more than 4.3 million people in need have received access to no-cost eye care and eyewear through one of our Eyes of Hope programs. Learn more about how we’re reinvesting in greater vision, health, and opportunities for all at vspvision.com.

About Marcolin

Marcolin is among the global leading groups in eyewear founded in 1961 in the heart of the Veneto district, Italy. It stands out for the unique ability to combine craftsmanship with advanced technologies through the constant pursuit of excellence and continuous innovation. The portfolio includes house brands (WEB EYEWEAR, ic! berlin), as well as licensed brands: TOM FORD, Guess, adidas Sport, adidas Originals, Christian Louboutin, Max Mara, Zegna, GCDS, MAX&Co., MCM, Pucci, BMW, K-Way®, Kenneth Cole, Abercrombie & Fitch, Hollister, rag & bone, Timberland, GANT, Harley-Davidson, Marciano and Skechers. Through its own direct network and global partners, Marcolin distributes its products in more than 125 countries.

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has more than €27 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised more than €27 billion in proceeds from over 60 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 about the PAI story, the team and their approach at: www.paipartners.com

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Samhwa Secures Investment from KKR to Drive Next Chapter of Growth

KKR

TPG completes sale of Samhwa to KKR following a successful partnership

SEOUL, South Korea–(BUSINESS WIRE)– Samhwa Co., Ltd. (“Samhwa” or the “Company”), a South Korean cosmetics packaging company, today announced the completion of an investment from funds managed by KKR, a leading global investment firm. KKR will fully acquire Samhwa from TPG at a valuation of KRW733 billion (~US$528 million).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250903881026/en/

Founded in 1977 as a mold development and manufacturing company, Samhwa has grown to become a leading cosmetic packaging supplier, providing comprehensive packaging solutions for the high-end cosmetics industry, serving more than 300 cosmetic brands that include prominent independent Korean and global luxury brands.

The global popularity of the Korean cosmetics industry continues to grow strongly with Korea ranking among the world’s top three cosmetics exporters alongside France and the United States;1 Samhwa is today one of the top cosmetic packaging producers in Asia, and among the top ten globally. The Company specializes in air-tight cushion packaging and airless pump technology and maintains an R&D center that enables it to design bespoke products to meet the needs of its customers and is equipped with an in-house system that covers end-to-end services including product development, manufacturing, assembly and inspection, and delivery.

Jun-bae Kim, CEO of Samhwa, said, “We are thrilled to welcome KKR as our new investor as we embark on our next chapter of growth and innovation. We believe we are well-positioned to achieve our ambition to be the partner of choice for major luxury brands globally and as we continue to focus on delivering superior packaging solutions for the cosmetics industry. We would like to thank TPG for their partnership and support, and look forward to working with KKR, whose global network, operational knowledge, and strategic guidance will be invaluable as we continue to focus on innovation and quality that our customers and partners have come to expect.”

Hi Joo Hong, Director, Private Equity, KKR, said, “Samhwa is a prime example of a differentiated packaging supplier at the heart of the K-Beauty ecosystem. KKR’s investment underscores its focused and selective approach of supporting leading Korean businesses in their growth strategy, including global expansion. We look forward to working with Samhwa’s management team and employees, leveraging KKR’s global network, operational expertise, and investment experience to help Samhwa achieve its next phase of growth.”

Scott (ShinWon) Yoon, Business Unit Partner, TPG Capital Asia, said “We are proud to have been part of Samhwa’s journey, building a strong platform that will enable sustained growth while creating value through driving new product innovation, as well as improving efficiencies in production, shipment and delivery planning. It has been a pleasure driving this phase of transformation for Samhwa. We would like to thank Jun-bae and the entire team at Samhwa for their dedication and commitment and wish them continued success in the years to come.”

Since its investment in 2023, TPG has supported Samhwa’s evolution from a family-owned business to a leading cosmetic packaging enterprise, with an emphasis on premium product segments. With support of its new investor KKR, Samhwa plans to continue its expansion and further strengthen its position as a globally renowned cosmetics packaging supplier.

KKR is making this investment predominantly from its Asian Fund IV and K-Series. Samhwa adds to KKR’s long track record of investing in Korean businesses. Past investments in the Korean market include MUSINSA, SK E&S, Ecorbit, HD Hyundai Marine Solution, KCF Technologies, LS Automotive, and Oriental Brewery.

Additional details of the transaction were not disclosed.

About Samhwa

Samhwa is a leading cosmetics packaging manufacturer in Korea. Established in 1977 with its roots in mold manufacturing, Samhwa has been at the forefront of supplying innovative, high-quality cosmetic packing solutions for Korean and global beauty brands. It is renowned for its air-tight cushion and airless pump products, serving some of the most prestigious global luxury cosmetic brands. For additional information, please visit Samhwa’s website at www.e-samhwa.com/eng.

About KKR

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

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with US$261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

1 Source: Ministry of Food and Drug Safety of the Republic of Korea, press release, May 27, 2025

 

Media Contacts
For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For TPG:
Brunswick Group
TPGAsia@brunswickgroup.com

Source: KKR

 

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