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KKR Completes Tender Offer for Forum Engineering

KKR

TOKYO–(BUSINESS WIRE)– Global investment firm KKR today announced the completion of its tender offer for the common shares and share options of Forum Engineering Inc. (“Forum Engineering”; TSE stock code 7088) (the “Tender Offer”) on December 23, 2025. The Tender Offer was made through KJ003 Co., Ltd. (the “Offeror”), an entity owned by funds managed by KKR.

Following the completion of the Tender Offer, the Offeror is expected to acquire 29,761,258 shares of Forum Engineering’s common stock, representing a total ownership ratio of 55.89% on a fully diluted basis. Settlement will commence on December 30, 2025.

In addition to the shares acquired in the Tender Offer, Forum Engineering will conduct a tender offer for its own shares (the “Self-Tender”), in which its major shareholder, La Terre Holdings Co., Ltd., is expected to tender its entire 37.07% stake. After the completion of the Self-Tender, the Offeror aims to acquire all remaining shares through a share consolidation process to achieve full ownership of Forum Engineering. An extraordinary shareholders’ meeting concerning the share consolidation is planned for late February 2026.

KKR is making its investment predominantly from its Global Impact Fund II.

George Aitken, Managing Director and Head of Global Impact Asia Pacific at KKR, said, “We are pleased with the outcome of the tender offer and are delighted to kick-start our strategic partnership with Forum Engineering, which plays an important role in developing skilled engineering talent in Japan. With enhanced training opportunities, the implementation of a broad-based employee ownership program, and access to KKR’s global experience, we aim to support Forum Engineering in creating meaningful and lasting impact for both engineers and the clients they serve.”

For details regarding the Tender Offer, please refer to the release issued by the Offeror today titled “Notice Regarding the Results of Tender Offer for the Shares, Etc. of Forum Engineering Inc. (Securities Code: 7088).”

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.

Disclaimers

This press release should be read in conjunction with the release issued by the Offeror today titled “Notice Regarding the Results of Tender Offer for the Shares, Etc. of Forum Engineering Inc. (Securities Code: 7088)”, which is available on TDNet and on Forum Engineering’s website.

Forward-Looking Statements

This press release includes statements that fall under “forward-looking statements” as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the U.S. Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantees that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations.

No Offer or Solicitation

The purpose of this press release is to publicly announce the results of the Tender Offer, and the Self-Tender, and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the Self-Tender. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the Self-Tender and make your own decision as a shareholder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the Self-Tender, nor shall it be relied upon in concluding an agreement regarding the tender offer.

U.S. Regulations

The Self-Tender will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) nor 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) nor the rules under these sections apply to the Self-Tender; and therefore the Self-Tender is not conducted in accordance with those procedures and standards. In addition, because Forum Engineering is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against Forum Engineering that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court.

Unless otherwise specified, all procedures relating to the Self-Tender are to be conducted entirely in Japanese. All or a part of the documentation relating to the Self-Tender will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail.

The Offeror and Forum Engineering, and their respective financial advisors and the tender offer agent (and their respective affiliates) may purchase the common shares of Forum Engineering, by means other than the Self-Tender, or conduct an act aimed at such purchases, for their own account or for their clients’ accounts, including in the scope of their ordinary business, to the extent permitted under financial instruments and exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the tender offer period for the Self-Tender. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure).

If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, Forum Engineering may buy back its own shares during the tender offer period for the Self-Tender in accordance with the procedures required by laws and regulations.

Media Contacts

Wei Jun Ong
+65 6922 5813
weijun.ong@kkr.com

Samuel Brustad
+81 90 7094 2523
samuel.brustad@kkr.com

Source: KKR

 

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Ipsum strengthens EV solutions offering with latest acquisition

IK Partners

London, UK – Specialist engineering solutions provider, Ipsum Group, has announced its acquisition of Parco EV Solutions Ltd and Parco Civil Engineering & Groundworks Ltd.

The move strengthens Ipsum’s existing EV offering available through its Grid Connections division. By coming together, the businesses can now offer an extensive full turnkey solution completely inhouse, from design, civils, installation and maintenance. This can also be combined with supporting capabilities from the wider Ipsum Group.

EV charging is a crucial step for the UK to hit its Net Zero goal by 2050. Ipsum has already been working with businesses across the nation to provide easy access to EV infrastructure. As a result of the acquisition, this work can continue at a rapid pace.

Andrew Cowan, Ipsum CEO, said: “I am delighted to welcome Parco to the Ipsum Group of Companies. Since I joined Ipsum last year, we have been on an upward trajectory of growth. We have been focused on using our expertise to deliver a quality service to customers that doesn’t compromise on safety.”

“We know how important easily accessible EV charging is to the UK’s sustainability goals, but it also plays a crucial part in building strong communities. We are proud to have established ourselves as a full turnkey EV solutions provider, this acquisition paves the way to maximise our combined capabilities.”

Michael Hand, Managing Director at Parco, said: “Joining forces with Ipsum through this acquisition represents a significant step forward in our growth ambitions. It gives us the opportunity to provide our EV charging expertise to a wider group of customers, while leveraging access Ipsum’s domain knowledge in other areas of infrastructure solutions, that will accelerate innovation and enhance our capabilities in an evolving industry.”

Jamie Allen, Director at Parco said: “Through this partnership, we’re now able to bring our extensive EV capabilities to a wider range of businesses through an even more integrated and sustainable delivery model. Working alongside Ipsum will position us strongly to meet the ever growing demands of the energy transition, and we’re excited to see where it will take us.”

Parco EV Solutions Ltd and Parco Civil Engineering & Groundworks Ltd provide bespoke EV charge point solutions including, design, survey, installation, connection and maintenance. It also utilises its proprietary back-office software to give customers complete control and rich insights to run a successful EV charging offer.

The acquisition is the fifth of its kind for Ipsum in 2025. It has also seen the addition of Matrix Power, Wootton & Wootton, Aquaflow Services, RJ Power, and Core Controls Solutions since January.

Ipsum is a leading provider of engineering services in the Power, Water, Infrastructure and Telecoms sectors. It works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.

It utilises a data-driven approach and technologically enhanced methodologies such as no-dig and trenchless technologies to provide a quicker, greener, and more cost-efficient delivery of engineering, maintenance and repair services, Ipsum employs over 1,000 employees and operates throughout the UK.

About Ipsum

Founded in 2017 in Chorley, UK, Ipsum Group is a leading provider of specialist utility and infrastructure support services. Ipsum works in partnership with its customers across both regulated and non-regulated environments to optimise asset performance, supporting the security, resiliency and longevity of their critical networks. For more information, visit https://ipsum.co.uk

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Pike Corporation to Accelerate Growth through Partnership with TPG, La Caisse and Management

LaCaisse
Partnership will support grid modernization and climate adaptation for U.S. electric utilities

TPG, a leading global alternative asset manager, and global investment group La Caisse (formerly CDPQ), today announced that they have partnered with the management team of Pike Corporation, a leading national provider of turnkey infrastructure engineering and construction solutions for the electrical grid, and signed a definitive agreement to acquire a majority interest in Pike.

TPG will invest in Pike through TPG Rise Climate, the firm’s dedicated climate investing platform, with La Caisse investing alongside TPG for a significant minority interest. J. Eric Pike, third-generation founder and Chairman of Pike, and James R. Wyche, Chief Executive Officer of Pike, also are investing alongside TPG and La Caisse with other existing investors. Following completion of the transaction, the company will continue to be led by Mr. Wyche and the current management team, which combined have over 200 years at Pike. Mr. Pike will continue to serve on the company’s Board of Directors. Terms of the transaction were not disclosed.

“Pike’s legacy as a family-founded company has been defined by safety, integrity and innovative solutions,” said J. Eric Pike, Chairman of Pike. “Our success has been a direct result of the dedication of our team, our long-tenured customers and the support of our investors. I am excited to continue supporting the company with our new partners.”

“TPG’s and La Caisse’s investments mark an exciting new chapter for Pike and provide us with the resources to execute our shared vision for Pike as the leading national provider for energy infrastructure solutions,” said James R. Wyche, CEO of Pike. “I look forward to working with TPG, La Caisse and our other stakeholders to continue helping our customers achieve their goal of providing affordable, reliable energy.”

Founded in 1945, Pike Corporation is among the nation’s leading providers of turn-key infrastructure solutions, including construction and engineering for electric distribution, transmission and substation; renewables and distributed energy resources; and telecommunications services. With approximately 12,000 employees serving over 400 customers, Pike plays a foundational role in building and maintaining critical infrastructure and addressing the demands of aging infrastructure, load growth, and climate-driven stress facing the electric grid.

“As the U.S. power grid faces rising demand, aging infrastructure, and increased exposure to extreme weather, Pike is uniquely positioned to help utilities adapt, modernize, and harden their systems,” said Jonathan Garfinkel, a Managing Partner of TPG Rise Climate. “We see a long-term growth opportunity for grid services providers in the US and we look forward to partnering with the Pike team – well-established leaders in the industry – to advance grid resilience and energy reliability across the country,” added TPG Rise Climate’s Elizabeth Stone Redding.

“Pike helps keep the power on and the grid strong—an essential service for businesses and communities across the United States,” said Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit at La Caisse. “As a global investor with significant exposure to the power and energy sector, La Caisse understands the critical role service providers like Pike play in ensuring grid reliability and resilience. Together with TPG, we’re investing in the growth of a proven leader supporting the backbone of the country’s energy network.”

Moelis & Company LLC is serving as financial advisor and Ropes & Gray LLP is acting as financing counsel to TPG in relation to this transaction. Simpson Thacher & Bartlett LLP is providing legal counsel to TPG and A&O Shearman is serving as legal advisor to La Caisse. Morgan Stanley & Co. LLC is serving as Pike’s financial advisor and Kirkland & Ellis LLP is serving as legal counsel.

ABOUT TPG RISE CLIMATE

TPG Rise Climate is the dedicated climate investing platform of TPG, a leading global alternative asset management firm. With dedicated pools of capital across private equity, transition infrastructure, and the Global South, TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals around the world, the strategic relationships and insights developed across TPG’s broad portfolio of climate companies, and a global network of executives, advisors, and corporate partners. As part of TPG’s $29 billion global impact investing platform, TPG Rise Climate invests broadly across the climate sector, with a focus on building and scaling leading climate solutions across the following thematic areas: clean electrons, clean molecules and materials, and adaptive solutions.

For more information, please visit www.tpg.com/platforms/impact/rise-climate

ABOUT LA CAISSE

At La Caisse, formerly CDPQ, we have invested for 60 years with a dual mandate: generate optimal long term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec’s economic development.

As a global investment group, we are active in the major financial markets, private equity, infrastructure, real estate and private credit. As at June 30, 2025, La Caisse’s net assets totalled CAD 496 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages.

La Caisse is a registered trademark of Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries.

ABOUT PIKE

Founded in 1945, Pike Corporation is the nation’s leading provider of infrastructure engineering and construction services. Pike’s portfolio of expertise provides end-to-end infrastructure coverage, including electric distribution, transmission and substation; renewables and distributed energy resources; telecommunications; and gas distribution services. In the rapidly evolving and increasingly connected world that we live in, Pike’s ability to plan, design and install infrastructure upgrades within a single enterprise ensures that our customers get the most up-to-date solutions delivered in the most effective way possible. Not only does our approach and field expertise maximize project efficiency, but it also leads to the industry’s highest-quality work. We have maintained long-standing, trusted customer relationships with over 400 investor-owned, municipal and cooperative utilities and infrastructure providers throughout the United States.

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Jensen Hughes Acquires Professional Loss Control Inc., Strengthening Its Presence in Canada

Gryphon Investors

The acquisition reinforces Jensen Hughes’ position in Canada and supports growth across key markets.

Jensen Hughes, a global leader in fire & life safety, security and risk-based engineering and consulting, today announced the acquisition of the Canadian operations of Professional Loss Control Inc., doing business as PLC Fire Safety Engineering – a highly respected fire & life safety engineering firm headquartered in Mississauga, Ontario, with operations spanning the country. This strategic acquisition broadens Jensen Hughes’ footprint across Canada and enhances its ability to support clients across critical industries, including nuclear, transit, industrial and healthcare.

Founded in 1983, PLC Fire Safety Engineering has built a strong reputation for its deep technical expertise, client-first approach and commitment to fire and explosion protection and prevention. The company provides a comprehensive range of services, including engineering assessments and analyses, code consulting, fire protection system design and consulting, training and fire safety planning, fire audits and fire event investigation. They are particularly well known for their longstanding support of Canada’s nuclear facilities, including power plants, waste management locations, research laboratories, mines and fuel processing facilities and leadership in complex environments.

“We’re proud to welcome PLC Fire Safety Engineering to the Jensen Hughes family,” said Raj Arora, CEO of Jensen Hughes. “Their exceptional technical and leadership talent, strong client relationships and deep understanding of high-risk sectors align perfectly with our strategic priorities. Together, we’ll continue delivering industry-leading fire protection solutions while expanding our footprint and capabilities across Canada.”

With the addition of PLC Fire Safety Engineering, Jensen Hughes strengthens its ability to serve clients with local knowledge backed by global resources – an alignment that resonates deeply with both organizations.

“Joining Jensen Hughes is an exciting next step for our team,” said Ghaith Qamheiah, Principal and President of PLC. “Our companies share a strong cultural alignment around technical excellence, innovation and integrity. This partnership will allow us to better serve our clients, provide new growth opportunities for our people and contribute to advancing fire and life safety across Canada and beyond.”

The integration process is already underway, with leadership from both organizations working closely to ensure a seamless transition for employees and clients.

Jensen Hughes is backed by middle-market private investment firm Gryphon Investors.

About Jensen Hughes

Jensen Hughes is the global leader in engineering, consulting and technology that make our world safe, secure and resilient. Worldwide, we are recognized most widely for our leadership in fire protection engineering while also specializing in other critical competencies core to our purpose – strategic capabilities we have been expanding for years. These include accessibility consulting, risk and hazard analysis, process safety, forensic investigations, security risk, and emergency management, as well as digital innovation across many of our services. Today, our 1,800+ engineers, consultants, analysts and strategists work from over 100 offices, supporting clients in over 100 countries across all markets – from government, healthcare, science and technology to energy, mission-critical and transportation. For more information, visit www.jensenhughes.com.

About Gryphon Investors

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

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E.GRUPPE expands its presence through the acquisition of LET Gruppe

GIMV

E.GRUPPE, a Gimv portfolio company and leading provider of electrical engineering solutions for clients in the industrial and energy sector, is expanding its product and service offering as well as regional presence through the acquisition of LET Gruppe.
E.GRUPPE was founded in 2021 with the aim of building a leading electrical engineering company focused on energy and automation technology across the entire electrical engineering value chain: from consulting and planning, through engineering, production and installation, to service and maintenance of customer-specific systems.

With more than 50 years of market experience, LET Gruppe – comprising LET Lüddecke, LET Services, ESV Erfurter Schaltschrankbau and IMB Energy Systems – brings complementary expertise to E.GRUPPE’s portfolio through capabilities in uninterruptible power supply systems. The transaction further strengthens existing core competencies in switchgear assembly, distribution systems, and automation technology. Following the acquisition, E.GRUPPE will have 365 employees across 10 locations, establishing a strong presence in central and southern Germany. The aim is to offer clients a comprehensive and future-oriented range of electrical engineering systems tailored to their specific needs.

The management team of LET Gruppe comments on the growth opportunities within E.GRUPPE: “The merger with E.GRUPPE marks an important step for us in continuing our growth trajectory and providing our clients with even more comprehensive products and services. LET stands for technological excellence and uncompromising reliability in complex systems for our clients. As part of a strong group, we gain new opportunities to expand our regional presence, further develop our services, and unlock new potential. At the same time, we are creating a stable, forward-looking environment with long-term prospects for our employees.”

Maja Markovic, Partner at Gimv’s Sustainable Cities platform in the DACH region, adds: “The acquisition of LET Gruppe, an experienced specialist in electrical engineering solutions, creates a leading provider of customised electrical engineering offerings in a growing and attractive market shaped by rising demands due to electrification, digitalisation, and the expansion of renewable energy. Together with the management and employees, we are continuing the growth journey of E.GRUPPE by pooling expertise and offering a comprehensive, future-proof solutions portfolio along the entire electrical engineering value chain.”

The transaction is subject to the usual conditions, including approval by the competition authorities. Further financial details will not be disclosed.

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Tikehau Capital raises €1 billion to support Egis’ next phase of growth, with backing from an Apollo S3 / ADIA consortium and Neuberger Berman as co-lead investors

Tikehau

Tikehau Capital, the global alternative asset manager, announces a capital raise for its portfolio company Egis, reaffirming its long-term commitment to supporting the company’s international expansion. This transaction marks the launch of Tikehau Capital’s first private equity continuation fund dedicated to Egis, with a size exceeding €1 billion. The fund aims to support Egis’ growth trajectory and accelerate its global development, particularly through strategic acquisitions. This investment is backed by the second vintage of Tikehau Capital’s flagship private equity decarbonisation strategy, as well as a leading group of investors including as co-lead investors: – – A consortium comprising of Apollo S3 and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and Neuberger Berman (managed funds on behalf of clients).

This transaction marks the fourth investment made through the second vintage of Tikehau Capital’s private equity strategy dedicated to decarbonisation. With this transaction, the second vintage has surpassed €2 billion in capital raised, just one year after its first closing, reaching a size 1.5 times larger than its predecessor.

Egis is a global leader in architecture, consulting, engineering, construction and mobility services. The company designs, develops and operates smart infrastructure and buildings that address climate change challenges while fostering more balanced, sustainable and resilient development.

Tikehau Capital initially acquired from Caisse des Dépôts et Consignations (CDC) a control position in Egis in January 2022 through the first vintage of its flagship private equity decarbonisation strategy to support Egis’ objectives of executing strategic acquisitions to expand internationally. Egis exceeded the growth targets it set out in 2022 several years ahead of plan; and since then it has more than doubled its EBITDA and exceeded its revenue targets, with revenue surpassing €2.2 billion in 2024.

The capital raise secured via the continuation fund managed by Tikehau Capital should enable Egis to continue this journey and will support its next growth phase, in which the company aims to double its size by 2028 and further solidify its position as a global leader in the decarbonisation of transport, cities and energy. In addition, as part of this transaction, the continuation vehicle also benefits from additional subscription commitments to support future capital increases, supporting Egis with the necessary financial resources to pursue its successful buy-and-build-strategy. CDC remains a key shareholder to support Egis’ development.

Tikehau Capital’s decarbonization strategy focuses on investing in companies at the forefront of global electrification, resource and energy efficiency, low-carbon solutions and climate adaptation. Through this investment strategy, Tikehau Capital continues to support businesses that play a critical role in meeting the growing global energy demand while reducing the carbon footprint of the economy and enhancing its resilience. Mathieu Badjeck and Pierre Abadie, Co-Heads of Tikehau Capital’s Private Equity Decarbonisation Strategy, and Emmanuel Laillier, Private Equity Chief Investment Officer at Tikehau Capital, declared: “Reinvesting in Egis through our second vintage is a natural step in our mission to back transformative companies driving the decarbonisation of the economy. This next chapter of Egis’ growth promises to be even more ambitious, and we are excited to build on its strong momentum, further scaling its impact worldwide. Over the past three years, Egis’ management has demonstrated outstanding leadership, successfully driving rapid expansion, strategic acquisitions and operational excellence. We are thrilled to continue this partnership as Egis seeks to strengthen its position as a global leader in sustainable infrastructure and low-carbon solutions.” Laurent Germain, CEO of Egis, and Olivier Gouirand, CFO of Egis, said: “We are grateful for the continued support of our shareholder, Tikehau Capital. Since 2022, our journey has demonstrated the full potential of a strong collaboration between Egis’ management and the Tikehau Capital private equity team, helping to transform Egis and strengthen its position among industry leaders. Tikehau Capital’s confidence has enabled us to pursue our ambitious strategic plan, “Impact the Future”, with determination – aiming to join the top 10 construction engineering companies and tackle the challenge of decarbonisation. We welcome Apollo S3, ADIA and Neuberger Berman and appreciate their trust. This transaction reaffirms the relevance of our strategy and our ability to achieve our ambitions together with our 20,500 employees. With future investment commitments, Egis will be able to strengthen its capital base and pursue new strategic M&A opportunities, particularly in North America, where we aim to build a platform that matches the scale of the market.”

ABOUT TIKEHAU CAPITAL Tikehau Capital is a global alternative asset management Group with €50.6 billion of assets under management (at 31 March 2025). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multi asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.2 billion of shareholders’ equity at 31 December 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 750 employees (at 31 March 2025) across its 17 offices in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

PRESS CONTACTS: Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30 UK – Prosek Partners: Philip Walters – +44 (0)7773331589 USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238 press@tikehaucapital.com Egis : MAYRAND Isabelle – isabelle.mayrand@egis-group.com – +33 6 17 10 29 70 SHAREHOLDER AND INVESTOR CONTACTS: Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 Julie Tomasi – +33 1 40 06 58 44 shareholders@tikehaucapital.com ABOUT EGIS Egis is a leading global architectural, consulting, construction engineering, operations and mobility services firm. We create and operate intelligent infrastructures and buildings that respond to the climate emergency and contribute to more balanced, sustainable and resilient territorial development. Operating in 100 countries, Egis puts the expertise of its 20,500 employees at the service of its clients and develops cutting-edge innovations accessible to all projects. Through its wide range of activities, Egis is a key player in the collective organisation of society and the living environment of citizens all over the world.

DISCLAIMER The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.

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Altor invests in IMBOX in partnership with the founder René Marker and the Grundtvig family

Altor Fund VI (“Altor”) has signed an agreement to acquire a majority stake in IMBOX Protection A/S (“IMBOX”) and enter into a partnership with the founder, René Marker, and the Grundtvig family. Altor will support the founder and the company on its continued international growth journey. The founder and the Grundtvig family will remain significant shareholders and continue supporting the development of IMBOX. René Marker will continue in his role as CEO.

Founded by René Marker in 2009 in Denmark, IMBOX is a niche engineering company and a first mover in providing automated footwear protection machines through an equipment-as-a- service model to a wide range of retail customers across both physical stores and e-commerce channels. The company is headquartered in Skødstrup, Denmark where it designs and develops the globally patented technology. IMBOX is currently present in 37 countries and has an installed base of ~9,700 machines in ~8,900 stores. Across its installed base, IMBOX sells one treatment per second, and generates around DKK 1 billion of revenue for retailers.

“We are really excited to hit the ground running with Altor as a partner. We will benefit from their long expertise of helping companies scale internationally and add relevant experience for the next phase of our joint growth journey. Together, we will ensure that more end-users and stores will have access to our offering” says René Marker, Founder and CEO of IMBOX.

Henrik Grundtvig from the Grundtvig family continued, “Early on, we had the opportunity to help bring a Danish innovation to life. Since then, we have built a competitive o`ering with globally patented technologies. We are excited to continue the partnership with René and Altor while still only seeing the beginning of the IMBOX journey”.

“IMBOX is an excellent example of a strong and proven technology built to meet the needs of its industry and customers. We are really impressed by what René and the Grundtvig family have built over the years and look forward to being part of continued growth journey.” says Jens Browaldh, Partner at Altor. “As IMBOX embarks on its next chapter, the company will continue to benefit from René’s leadership and his team’s deep technical and industry expertise, now complemented by Altor’s experience to support accelerated growth. Our ambition is to at least triple the installed base over the next 3 to 5 years,” says Karl Svenningson, Principal at Altor.

Parties have agreed not to disclose the financial details.

About Altor

Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in more than 100 companies. The investments have been made in medium-sized companies predominantly in Nordic and DACH with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Eleda, FLSmidth, Toteme, Silo AI, Marshall and Helly Hansen.

About Imbox

IMBOX develops easy-to-use premium machines for automated footwear protection at the point-of-sale. The product portfolio currently includes two machines; the IMBOX Original and IMBOX Flagship, which has won a Red Dot Design Award. The solution is provided through a hardware-as-a-service revenue-sharing model to omnichannel footwear and sports retailers, department stores and e-commerce shops. IMBOX is headquartered in Skødstrup, Denmark.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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Ipsum boosts its Power division with newest acquisition

IK Partners

London, UK – Specialist engineering services provider, Ipsum, has announced its acquisition of RJ Power, a leading provider of high voltage electrical services.

The addition will complement Ipsum’s existing capabilities in connections, asset installation and replacement, and maintenance of high voltage electrical infrastructure. The acquisition expands the business’ footprint in and around the English capital, as well as in the North and Bristol – a critical step in its growth.

Andrew Cowan, CEO at Ipsum, said: “It is a pivotal and exciting time for Ipsum as we continue to grow from strength to strength. The acquisition of RJ Power represents a major milestone in our journey, enabling us to expand our presence into London and the South-East.

“As businesses across the UK intensify their focus on Net Zero ambitions, Ipsum remains dedicated to providing the highest standards of safety and exceptional customer service. We are fully committed to mobilising the right resources and expertise to support our customers in achieving their goals for sustainable resilient assets, while ensuring health, safety, quality and customer satisfaction.”

Andrew Pierce, Managing Director of RJ Power, said: “We’re excited to partner with Ipsum, ushering in a dynamic new era for our business, employees, clients, and partners. This acquisition is a testament to our team’s commitment and effort, and it paves the way for significant growth, fresh innovation, and added value for those we serve. United by a common vision, we’re eager to reach new heights together and create even more success in the future.”

Ipsum is a leading provider of engineering services in the Power, Water, Infrastructure and Telecoms sectors. It works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.

It utilises a data-driven approach and technologically enhanced methodologies such as no-dig and trenchless technologies to provide a quicker, greener, and more cost-efficient delivery of engineering, maintenance and repair services, Ipsum employs over 1,000 employees and operates throughout the UK.

The transaction was advised by the sell side corporate finance advisers Grant Thornton.

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Ipsum expands into London with new acquisition

IK Partners

London, UK – Specialist engineering services provider, Ipsum, has announced its acquisition of London’s leading plumbing, pump repair and drainage specialists, Aquaflow Drainage Services Ltd.

The addition will complement Ipsum’s existing water and wastewater asset maintenance and repair capabilities. It will also see the introduction of new specialist plumbing, pump installation and repair, and chemical dosing capabilities. The acquisition will also expand the business’ footprint in and around the English capital, a critical step in its growth.

Andrew Cowan, CEO at Ipsum, said: “Over the last eight years, Ipsum has been on a growth journey and the acquisition of Aquaflow marks a significant milestone. Our expansion into London, a notoriously concentrated market in the sector, will open up opportunities for us while simultaneously providing Aquaflow’s existing customer-base with a broader range of maintenance and repair services.

“We are committed to working with Keith Borrett and the rest of the Aquaflow team to ensure a seamless transition and continue supporting our valued customers and clients.”

Keith Borrett, Managing Director at Aquaflow Drainage Services Ltd, said: “We are thrilled to join forces with Ipsum, marking an exciting new chapter for our company, staff, customers and suppliers. This acquisition not only validates the hard work and dedication of our entire team, but also opens up tremendous opportunities for growth, innovation, and enhanced value for our customers. Together, we look forward to building on our shared vision and achieving even greater success.”

Ipsum is a leading provider of engineering services in the Power, Water, Infrastructure and Telecoms sectors. It works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.

It utilises a data-driven approach and technologically enhanced methodologies such as no-dig and trenchless technologies to provide a quicker, greener, and more cost-efficient delivery of engineering, maintenance and repair services, Ipsum employes over 1,000 people and operates throughout the UK.

The transaction was advised by the sell side by corporate finance advisers, Cleveland Scott.

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Shermco Acquires Eastern High Voltage, Inc.

Gryphon Investors

Strategic acquisition adds NETA-certified expertise and expands Shermco’s footprint in the Northeast

Shermco Industries, a leading provider of electrical testing, engineering, maintenance, and repair services, announced today it has acquired Eastern High Voltage, Inc. (“EHV” or “the Company”). The terms of the transaction were not disclosed.

EHV, based in Robbinsville, New Jersey, is an InterNational Electrical Testing Association (NETA)-accredited company with a strong reputation for electrical testing and field services. EHV delivers a comprehensive suite of services including electrical testing and preventative maintenance, acceptance testing and commissioning, infrared scanning, transformer testing and oil analysis, and 24/7 emergency response. The Company’s deep technical capabilities and long-standing customer relationships position it as a trusted partner across commercial and industrial end markets.

This acquisition adds to Shermco’s industry-leading base of 550+ NETA-certified professionals, solidifying its position as the largest independent electrical testing and maintenance provider in North America. It also brings EHV’s seasoned management team, whose deep technical expertise and customer relationships will strengthen Shermco’s regional leadership and accelerate integration and growth efforts.

“EHV has built a strong reputation through its commitment to safety, quality, and responsive service. The EHV team is known for technical excellence and trusted partnerships with mission-critical facilities across its region,” said Phil Petrocelli, CEO of Shermco Industries. “Expanding into the Northeast brings exciting opportunities to continue to grow our customer base and extend our national capabilities with local expertise.”

This partnership advances Shermco’s strategic growth plan by expanding its NETA-accredited workforce, enhancing field service capabilities, and delivering integrated solutions across electrical system maintenance, engineering, and specialized testing. By combining the strengths of Shermco and EHV, customers will gain access to deeper technical resources, broader geographic reach, and a more comprehensive suite of high-value services.

Shermco is majority-owned by San Francisco-based Gryphon Investors, a leading middle-market private investment firm.

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About Shermco

Headquartered in Irving, TX, Shermco provides electrical testing, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 40 locations, Shermco serves a diversified blue-chip client base across North America. The company is an active participant in NETA (the InterNational Electrical Testing Association), EASA (Electrical Apparatus Service Association), and AWEA (American Wind Energy Association).

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

Shermco Contact:

Drew Johns

Vice President, Corporate Development

Shermco Industries

Drew.Johns@shermco.com

Gryphon Contact:

Caroline Luz

203-570-6462

cluz@lambert.com

or

Jennifer Hurson

845-507-0571

jhurson@lambert.com

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