Tag Archives: Industrie

Leonard Green & Partners to Acquire TenCate Grass from Crestview Partners

LGP Logo

TenCate Firmly Established as the Leading Global Artificial Grass Solution Provider for Sports and Outdoor Living

Investment Marks LGP’s Entry into the Rapidly Growing Market for Sports and Outdoor Living Surfaces with an Estimated Market Size of More than $12bn Annually

NIJVERDAL, Netherlands and DAYTON, Tenn., Dec. 22, 2023 /PRNewswire/ — TenCate Grass Holding B.V. (“TenCate”, or the “Company”) today announced that a definitive agreement has been reached whereby affiliates of Leonard Green & Partners, LP (“LGP”) will acquire a majority stake in the Company by purchasing all of the shares of TenCate currently owned by Crestview Partners (“Crestview”) and select other shareholders. The current senior management team of TenCate will remain invested alongside LGP and will continue to lead the Company.

Michael Vogel, Chief Executive Officer of TenCate, said: “We were extremely fortunate to have had Crestview as our partner over the past two years. Crestview was instrumental in supporting our growth ambitions, enabling us to reach global revenues of $1.5 billion and earnings in excess of $200 million. While it is bittersweet to end our very successful partnership with Crestview, we are thrilled to be moving forward with LGP. The team at LGP is clearly aligned with our current strategic thinking. We expect to benefit greatly from their vast experience in investing in market leading companies and brands.”

Joe Fields, CEO of TenCate Grass Americas added: “In addition to being strategically aligned, our corporate values mirror those of LGP and we believe that we could not have found a better partner from a cultural alignment standpoint.”

Jonathan Seiffer, Senior Partner of LGP, added: “TenCate is precisely the type of company in which we like to invest. We value companies that win with people, a differentiated culture, and multiple levers for growth. We strongly believe that TenCate’s best years are ahead. We are thrilled to partner with their broad group of employee owners and to help deliver the next phase of outstanding growth.”

Brian Cassidy, Chairman of TenCate and President of Crestview, stated: “TenCate’s remarkable performance is a direct result of management excellence and their ability to drive continuous operational improvements while simultaneously executing multiple strategic acquisitions. We extend our sincerest gratitude to the entire TenCate team for our strong partnership and wish them all the best as they embark on their next stage of growth in partnership with LGP.”

The transaction is expected to close in February 2024. Terms of the transaction were not disclosed.

Advisors

BofA Securities was Lead Financial Advisor and Baird was Financial Advisor to TenCate. Lincoln International LLC acted as Financial Advisor to LGP. Latham & Watkins LLP and Loyens & Loeff acted as legal advisors to LGP. Paul, Weiss, Rifkind, Wharton & Garrison, LLP acted as legal advisor to TenCate and Crestview.

About TenCate

TenCate is a leading, vertically integrated manufacturer, distributor and installer of artificial turf and other surfaces for Sports, including those for football, soccer, baseball, softball, field hockey and a variety of smaller Sports as well as for the rapidly growing Outdoor Living segment. Headquartered in the Netherlands with its main manufacturing facilities in the Netherlands, the United States, and the United Arab Emirates, the Company serves customers in more than forty countries. For more information, please visit www.tencategrass.com.

About LGP

LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $70 billion of assets under management. The firm partners with experienced management teams and founders to invest in market-leading companies. Since inception, LGP has invested in over 120 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials. For more information, please visit www.leonardgreen.com.

About Crestview

Founded in 2004, Crestview is a private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials and financial services. For more information, please visit www.crestview.com.

 

Contacts:

For TenCate:
Astrid Busschers
a.busschers@tencategrass.com

For Leonard Green:
communications@leonardgreen.com

For Crestview:

Jeffrey Taufield / Daniel Yunger
Kekst CNC
212-521-4800
jeffrey.taufield@kekstcnc.com / daniel.yunger@kekstcnc.com

 

SOURCE TenCate Grass Holdings; Crestview Partners; Leonard Green & Partners

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Ferd chosen as partner in underwater technology company General Oceans

Ferd

Ferd has become a co-owner in the marine technology company General Oceans, which, through its five subsidiaries, is a leader in its niches. All five subsidiaries develop components that enable more accurate and scalable exploration of the ocean.

Nortek constitutes the largest part of General Oceans and was founded in 1996 by Atle Lohrmann. The company is based at Rud in Bærum and develops acoustic sensors to measure water movements, such as ocean currents and waves, for the navigation of underwater vehicles and various measuring instruments. The systems are distributed to over 90 countries worldwide, including for sustainable resource utilisation, monitoring of climate change, and the maritime and defence industries. The company has, for a long time, delivered solid financial results by continuously introducing new functional systems and maintaining long-term customer relationships.

Apart from Nortek, General Oceans comprises the companies Tritech, Klein Marine, Reach Robotics, and Strategic Robotic Systems (SRS). The first two provide various types of sonars, Reach Robotics delivers gripping systems for underwater robots, and SRS develops the next generation of underwater vehicles. Together, General Oceans forms a consortium that is well-positioned to exploit market opportunities within ocean technology.

Ferd is pleased to be chosen as partner and looks forward to further developing the company alongside the principal shareholder and CEO Atle Lohrmann, as well as the rest of General Oceans. The potential of marine technology intrigues us, and we believe there will be a high demand for products that assist in understanding what happens beneath the sea surface.

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EQT Private Equity to acquire Zeus, a global leader in advanced polymer components used in life-saving medical procedures

eqt
  • EQT Private Equity to acquire Zeus, a leading supplier of custom polymer components to the world’s most innovative medical device and industrial companies
  • Transaction highlights EQT’s commitment to partnering with leading, purpose-driven companies that deliver inherently critical services to society. Zeus uses its material science expertise to develop advanced components for medical devices used in minimally invasive, life-saving procedures
  • EQT will support Zeus through investments in additional production capacity, R&D, and operational excellence

The EQT X fund (“EQT”) and Zeus Company, Inc., today jointly announced that they have entered into an agreement for EQT to acquire Zeus Company Inc (“Zeus” or the “Company”) from the Tourville family. Founded in 1966, Zeus is a pioneer in the design, development, and extrusion of fluoropolymer tubing for medical devices and select industrial applications. EQT also announced that John Groetelaars, former CEO of Hillrom and EQT Industrial Advisor, will serve as Zeus’ Executive Chairman upon closing of the transaction.

For more than 50 years, Zeus has delivered innovative and mission-critical components that improve the efficacy and performance of highly complex catheters, which are used in life saving, minimally invasive medical procedures, among other applications. The Company is headquartered in Orangeburg, South Carolina, with eight facilities across the United States and one in Letterkenny, Ireland. Zeus employs approximately 2,400 people globally and serves over 300 customers in more than 100 countries, including leading medical device manufacturers, contract device manufacturing organizations, academic institutions, and industrial customers across aerospace, semiconductors, and automotive, among other industries.

Zeus’ components enable the delivery of minimally invasive interventional procedures, which drive significantly better health outcomes than traditional open surgeries, including faster patient recovery and reduced pain, at lower cost. Zeus has experienced substantial growth as a leading innovator in polymer-based solutions. As populations age and chronic conditions become more prevalent, increasing demand for precision, high-performance catheters to support therapeutic areas including structural heart, peripheral and neurovascular interventions, is expected to continue fueling Zeus’ growth.

EQT will support Zeus with investments in additional capacity, R&D, and operational excellence, to support the rapidly growing medical fields that leverage minimally invasive technologies. These investments will enable the Company to continue its legacy and reputation of partnering with its clients’ research and development groups to remain at the forefront of next generation technologies.

Ethan Waxman, Partner within EQT Private Equity’s Advisory Team, said: “EQT has tracked the medical device component industry closely for several years, and we believe Zeus is uniquely positioned within the end markets it serves due to its unmatched material science and process expertise. We are excited to partner with the Company and invest in its next phase of growth, its employees, and the communities it serves, while maintaining Frank Tourville Sr.’s values and commitment to excellence, which are shared by EQT.”

Steve Peterson, President and CEO of Zeus, added: “We are excited to join the EQT family. Zeus has gained significant momentum in recent years due to a strategic global expansion plan. This acquisition accelerates that momentum and growth by supporting future expansion, new product innovation, process improvements, technological transformation, and enhanced capabilities.”

John Groetelaars said: “I am thrilled to embark on this journey with Zeus and EQT to build upon the Company’s impressive legacy and best-in-class, differentiated product portfolio. We are committed to strengthening the partnerships with the customers that Zeus serves and expanding capacity through investments, operational upgrades, and growth from new product innovations. In the near-term, we intend to expand facilities and add personnel to increase production on behalf of our customers, and we’re excited to maintain our status as a key employer in the communities where we operate.”

“As one of the world’s leading healthcare investors, EQT invests in innovative companies that are addressing some of the most significant challenges in healthcare today, ranging from life science startups to scaled global businesses,” said Eric Liu, Partner, Head of North American Private Equity and Co-Head of Global Healthcare. “This acquisition represents a highly thematic investment for EQT, given our longtime focus on the medical technology industry and our experience partnering with family-founded businesses. With EQT’s deep expertise and broad network of advisors in the healthcare sector, we look forward to continuing our track record of creating differentiated value for all stakeholders.”

The transaction is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions.

Piper Sandler Companies acted as financial advisor to EQT Private Equity and Simpson Thacher & Bartlett LLP provided legal counsel. Goldman Sachs & Co. LLC acted as financial advisor to Zeus and Freshfields Bruckhaus Deringer LLP provided legal counsel. The Private Credit business within Goldman Sachs Asset Management will serve as the Administrative Agent and lead lender in the Senior Secured financing to support the transaction.

With this transaction, EQT X (target fund size of EUR 20.0 billion and a hard cap of EUR 21.5 billion) is expected to be 25-30 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size.

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

Contact
EQT: Mathilde Milch, Director, Communications, Mathilde.milch@eqtpartners.com, +1 917 510 6626
Zeus: Jennifer McQuesten, VP of Corporate Communications, jmcquesten@zeusinc.com, +1 480 200 5488

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About Zeus
Zeus, headquartered in Orangeburg, South Carolina, is the world’s leading polymer extrusion and catheter design manufacturer. With over 55 years of experience in medical, aerospace, energy, automotive, fiber optics, and other leading industries, Zeus’ mission is to provide solutions, enable innovation, and enhance lives. The company employs over 2,400 people worldwide with facilities in Aiken, Columbia, Gaston, Orangeburg, and St. Matthews, South Carolina; Branchburg, New Jersey; Chattanooga, Tennessee; San Jose, California; Arden Hills, Minnesota; Guangzhou, China; and Letterkenny, Ireland. For more information, visit www.zeusinc.com.

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WEMAS partners with Sekisui Jushi Corporation (“SJC”) to pursue further expansion after growth journey alongside Gimv and Paragon Partners

GIMV

Gimv, Paragon Partners (“Paragon”) and its minority investors are to sell 100% in WEMAS to Sekisui Jushi Corporation.

WEMAS (www.wemas.de) was established in 1971 and has grown into a full-range supplier of certified passive traffic safety products. The company is based in Gütersloh and employs more than 130 employees at two sites in Germany.

Under Gimv’s and Paragon’s ownership, WEMAS has strengthened its market leading position in traffic safety technology by making significant investments in product innovation, production automation and capacity expansion. As a result, the company has been able to launch new products and broaden its customer base, allowing it to accelerate growth both in Germany and abroad.

Maja Markovic and Ruben Monballieu, both Partner Sustainable Cities at Gimv, say: “WEMAS is a European market leader with an innovative product range and state-of-the-art production in Germany. We are proud of the company’s international growth during our holding period.”

Dr. Edin Hadzic, Founding Partner at Paragon Partners, adds: “We would like to thank the management team at WEMAS for their commitment and drive in executing this successful growth story.”

Dirk Gößling, CEO at WEMAS, concludes: “The management team is looking forward to continuing to offer innovative and market-leading solutions to our customers. In doing so, we will benefit from the complementary expertise and geographic presence of our new owner SJC.”

Paragon and Gimv were supported throughout the transaction by Alvarez & Marsal (financial), Reed Smith (legal), KPMG (tax) and William Blair (M&A).

The transaction has no significant impact on the Net Asset Value of Gimv as of 30 September 2023. Over the entire holding period Gimv realizes a return in line with the long-term portfolio return target. No further financial details will be disclosed.

 

Read the full document

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Bencis sells majority stake in Kooi to IK Partners

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Bencis

Amsterdam – Monday, 04 December 2023

Bencis is pleased to announce that it has signed an agreement to sell a majority stake in Kooi European Mobile Security Solutions B.V. (“Kooi” or “the Company”) to IK Partners (“IK”). Kooi is a fast-growing pan-European provider of temporary camera surveillance (“TVS”) and rising early-detection (“RED”) solutions. IK is acquiring a majority stake from Bencis Buyout FUnd V (“Bencis”), founder Pieter Kooi and the management team, who will all reinvest. Financial terms of the transaction are not disclosed.

Headquartered in Drachten, the Netherlands, Kooi is a leading provider of TVS and RED solutions, including a range of Units for Observations (“UFOs”), serving various end markets across Europe. The Company provides an end-to-end service from technical advice, delivery, installation and 24/7 monitoring through its own Kooi Alarm Centres.

At present, Kooi has more than 200 employees who serve a growing customer base in 23 countries. The Company has a sizeable presence in the Benelux, DACH, France and the Nordics with a track record of successfully expanding into new geographies. In recent years, the Company has also successfully introduced its UFO offering to sectors including Construction and Infrastructure.
Additionally, Kooi benefits from its unique and strong heritage in Renewables.

With Pieter Kooi’s involvement and the backing of Bencis since June 2018, the current management team, along with its strong staff, has successfully steered Kooi through robust growth, effectively expanding and enhancing its operational capabilities.

In partnership with IK, Kooi plans to: further realise benefits of scale; penetrate the growing TVS and RED markets; establish additional local teams; andexpand internationally into underserved markets.

Completion of the transaction is subject to legal and regulatory approvals.

Peter Schollmann, CEO of Kooi, stated: “We would like to thank Bencis for all their support over the past five years, which has provided us with a solid foundation for future growth. Kooi’s success comes
from our people and culture; something I am very GRUTSK (proud) of!”

Pieter Kooi, Founder of Kooi, added: “We look forward to the next chapter and realising our ambitious plans to accelerate growth of the Company across Europe. We are confident that with the support of IK, we can retain our autonomous, market-leading position and successfully penetrate a host of underserved European markets.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK X Fund, said: “We have been impressed with Kooi’s track record to date and its ability to continuously evolve its offering to meet the
needs of its customers. It has a well-established presence in the TVS market with further growth potential which can be unlocked in the years to come, particularly in those European markets where IK
itself has a recognised footprint. With this solid foundation in place, we look forward to collaborating with Peter and the team to develop the Company further.”

Robert Falk, Partner at Bencis, added: “Today marks a pivotal moment with the successful exit of Kooi. During our partnership since 2018, Kooi has seen an exceptional growth trajectory, thanks to the
excellent collaboration with Pieter Kooi and the management team. Our journey with Kooi is a testament to a strong strategic partnership and visionary entrepreneurship resulting in an outstanding outcome. We are convinced that IK is the right partner for Kooi to further accelerate its growth and we are confident that Kooi will continue to play its market-leading role. We are proud to have been and continue to be part of this journey and are excited for what the future holds for Kooi.”

About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in
over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit http://www.ikpartners.com

About Kooi
Kooi offers mobile video surveillance and incident response to secure the sites of its customers 24/7. The company has a leading position in the construction, infrastructure, renewables and waste management sectors across Europe. Kooi offers a range of systems with varying specifications, enabling them to secure different types of sites. For more information, visit https://247kooi.com/

About Bencis Capital Partners
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf,
Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. For more information, visit https://www.bencis.com/nl

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Polaris Electro-Optics, Inc. Raises Seed Round to Revolutionize Optical Interconnects

M Ventures

Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries.

BROOMFIELD, Colo., Dec. 4, 2023 /PRNewswire-PRWeb/ — Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries. The funding round was led by Rhapsody Venture Partners and garnered support from new investor Buff Gold Ventures as well as pre-seed investor, M Ventures. As part of this milestone, Bernard Lupien of Rhapsody Venture Partners will join Polaris’ Board of Directors.

Jason Sickler, CEO of Polaris, emphasized the significance of this financing round, stating, “The addition of Rhapsody and Buff Gold Ventures as shareholders, along with the unwavering support from M Ventures, underscores the vast potential of our platform technology to revolutionize the communications and computation sectors. To meet the ever-growing demands of these markets, we must deliver unparalleled speed, exceptional energy efficiency, cost-effectiveness, and stability. In all respects, Polaris’s technology stands unrivaled.”

Bernard Lupien, General Partner at Rhapsody Venture Partners, underlined the remarkable potential of Polaris’s platform, stating, “We’ve conducted thorough assessments of various technologies aimed at continually enhancing the speed and efficiency of optical communications.

 

We believe that Polaris’s platform has the most promising potential for solving the acute data transfer bottlenecks that the industry is facing.

Bernard Lupien, Rhapsody Venture Partners

This funding will be strategically allocated towards advancing material and design innovation. It will further enable Polaris Electro-Optics to showcase high-speed, high-efficiency devices designed for optical interconnect systems, reaffirming their commitment to transforming the optical technology landscape.”

 

Our excitement for Polaris Electro-Optics’ potential to deliver a step-function change to the silicon photonics roadmap has only increased since our pre-Seed investment, and we are more than glad to double down with our Seed round investment.

Daniel Franke, Investment Director at M Ventures and Board Director in the company

Through our existing investments in the photonics, optics, and high-performance compute sectors, we recognize an unmet and rapidly growing need for a next generation of electro-optic modulators. We believe that Polaris’ technology platform will be integral to enable the anticipated fundamental trends in high-performance compute, such as the shift towards datacenter disaggregation,

adds Tobias Egle, Board Observer and Analyst at M Ventures.

“Next to the intrinsic advantages in modulation physics, we see the clear route towards mass-manufacturability and back-end integration with existing fabrications processes as a major differentiator.”

“We are delighted to join the collaborative team of investors supporting Polaris Electro-Optics. The disruptive intellectual property licensed from the University of Colorado, combined with a strong team of experienced founders and technologists, gives Polaris a solid foundation for quick innovation and early traction,” noted Sally Hatcher, Managing Partner of Buff Gold Ventures.

About Polaris Electro-Optics, Inc.

At Polaris Electro-Optics, Inc., we believe that overcoming society’s greatest challenges requires mastery of the creation, movement, and use of information. We are mastering the movement of information by leveraging patented material and design innovations to offer the highest-speed, most energy efficient integrated photonics products to the communications and computation industries. Our goal is to define the standard for moving information. We work hard in a collaborative, cross-functional team environment, and value mutual trust and respect built on a foundation of integrity, transparency, consistency, and humility. Additional information about Polaris is available at www.PolarisEO.com.

About Rhapsody Venture Partners

Rhapsody Venture Partners is a venture firm in Cambridge, MA, that funds early-stage applied science and engineering companies. Rhapsody’s team works side-by-side with entrepreneurs to secure anchor customers that reduce time-to-commercialization and accelerate growth. www.RhapsodyVP.com

About M Ventures

M Ventures is the strategic, corporate venture capital arm of Merck KGaA, Darmstadt, Germany. From its headquarters in the Netherlands and offices in Germany, USA and Israel, M Ventures invests globally in transformational ideas driven by innovative entrepreneurs. Taking an active role in its portfolio companies, M Ventures teams up with management teams and co-investors to translate scientific discoveries into commercial success. M Ventures focuses on identifying and financing novel solutions to some of the most difficult challenges, through company creation and equity investments in fields that will impact the vitality and sustainability of Merck KGaA, Darmstadt, Germany’s current and future businesses. www.M-Ventures.com

About Buff Gold Ventures

Buff Gold Ventures is a venture capital firm dedicated to investing in and supporting innovative startups affiliated with the University of Colorado Boulder. Our mission is to accelerate the development of disruptive technologies that address global challenges while fostering the growth of the next generation of entrepreneurs and venture capitalists. We invest in technology and the diverse teams solving some of the world’s most pressing problems. www.BuffGoldVentures.com.

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Blackstone Acquires Power Grid Components, Inc., a Leading Supplier of Critical Components for the Electrical Grid

Blackstone

New York, December 5, 2023 – Today, Blackstone (NYSE: BX) announced that private equity funds affiliated with Blackstone have closed the acquisition of Power Grid Components, Inc. (“PGC”) from Shorehill Capital LLC.

PGC is a leading domestic designer and manufacturer of a wide range of critical components for protection, monitoring, and safety applications in electrical substations, an essential segment of the electrical grid responsible for managing and monitoring power flows and converting electricity into different voltages. As a supplier of critical components to the grid and partner to many of the nation’s largest electrical utilities, PGC advances the global energy transition by improving the reliability, capacity, and safety of the grid, by enabling the deployment of new renewable generation, and by supporting broad electrification trends. PGC was founded in 2017 by CEO Rick McClure and Shorehill Capital LLC.  Mr. McClure and the other senior leaders will remain with the business in their current positions following the transaction.

David Foley, Global Head of Blackstone Energy Transition Partners, said: “As a leading investor in the energy transition, we proactively seek out companies with strong, entrepreneurial management and work to help them fully capitalize on the growth opportunities available to them. The acquisition of Power Grid Components fits squarely within one of our favorite investment themes – the U.S. electrical grid, joining our other recent grid-related investments, including Champlain Hudson Power Express, equipment manufacturers such as Sabre and grid software companies such as Energy Exemplar.”

John-Paul (JP) Munfa, Senior Managing Director at Blackstone, added: “We’re thrilled to invest in PGC, which we believe is well-positioned to benefit from tremendous growth driven by long-term secular tailwinds associated with the need to replace aging electrical grid infrastructure, connect newly-built renewable power generation, increase capacity to meet growing electricity demand, and harden the grid to improve its reliability. We look forward to working with Rick and his team on this next chapter for PGC. PGC has built strong, long-term relationships with many of our nation’s leading electrical utilities and has positioned itself as an acquiror of choice within the electrical components sector.”

Rick McClure, CEO of Power Grid Components, Inc., said: “Our leadership team is thrilled to be partnering with Blackstone, a leader in energy transition investing. We believe Blackstone will be an outstanding strategic partner in helping us achieve long-term growth while continuing to supply essential components with outstanding quality, reliability and lead times to North America’s electrical utilities.”

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Blackstone Energy Transition Partners   
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $21 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Power Grid Components, Inc.
Power Grid Components, Inc. was formed by electric grid products industry veteran Rick McClure and Shorehill Capital LLC to acquire and grow companies that manufacture, and supply products used in the North American electric power grid. Currently, the company is a supplier of high voltage disconnect switchgear, high quality porcelain and glass insulators, as well as instrument transformers for revenue metering and protective relaying to electric utilities, original equipment manufacturers and other customers who support the grid.

Contact
Kate Holderness
Kate.holderness@blackstone.com
917-318-6818

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IK Partners to invest in Kooi

IK Partners

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to acquire Kooi European Mobile Security Solutions B.V. (“Kooi” or “the Company”) the fast-growing pan-European provider of temporary camera surveillance (“TVS”) and rising early-detection (“RED”) solutions. IK is acquiring a majority stake from Bencis Capital Partners (“Bencis”), founder Pieter Kooi and the management team, who will all reinvest. Financial terms of the transaction are not disclosed.

Headquartered in Drachten, the Netherlands, Kooi is a leading provider of TVS and RED solutions, including a range of Units for Observations (“UFOs”), serving various end markets across Europe. The Company provides an end-to-end service from technical advice, delivery, installation and 24/7 monitoring through its own Kooi Alarm Centres.

At present, Kooi has more than 200 employees who serve a growing customer base in 23 countries. The Company has a sizeable presence in the Benelux, DACH, France and the Nordics with a track record of successfully expanding into new geographies. In recent years, the Company has also successfully introduced its UFO offering to sectors including Construction and Infrastructure. Additionally, Kooi benefits from its unique and strong heritage in Renewables.

With Pieter Kooi’s involvement and the backing of Bencis since June 2018, the current management team, along with its strong staff, has successfully steered Kooi through robust growth, effectively expanding and enhancing its operational capabilities.

In partnership with IK, Kooi plans to: further realise benefits of scale; penetrate the growing TVS and RED markets; establish additional local teams; andexpand internationally into underserved markets.

Completion of the transaction is subject to legal and regulatory approvals.

Peter Schollmann, CEO of Kooi, stated: “We would like to thank Bencis for all their support over the past five years, which has provided us with a solid foundation for future growth. Kooi’s success comes from our people and culture; something I am very GRUTSK (proud) of!”

Pieter Kooi, Founder of Kooi, added: “We look forward to the next chapter and realising our ambitious plans to accelerate  growth of the Company across Europe. We are confident that with the support of IK, we can retain our autonomous, market-leading position and successfully penetrate a host of underserved European markets.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK X Fund, said: “We have been impressed with Kooi’s track record to date and its ability to continuously evolve its offering to meet the needs of its customers. It has a well-established presence in the TVS market with further growth potential which can be unlocked in the years to come, particularly in those European markets where IK itself has a recognised footprint. With this solid foundation in place, we look forward to collaborating with Peter and the team to develop the Company further.”

Robert Falk, Partner at Bencis, added: “Today marks a pivotal moment with the successful exit of Kooi. During our partnership since 2018, Kooi has seen an exceptional growth trajectory, thanks to the excellent collaboration with Pieter Kooi and the management team. Our journey with Kooi is a testament to a strong strategic partnership and visionary entrepreneurship resulting in an outstanding outcome. We are convinced that IK is the right partner for Kooi to further accelerate its growth and we are confident that Kooi will continue to play its market-leading role. We are proud to have been and  continue to be part of this journey and are excited for what the future holds for Kooi.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

 

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit http://www.ikpartners.com

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About Kooi

Kooi offers mobile video surveillance and incident response to secure the sites of its customers 24/7. The company has a leading position in the construction, infrastructure, renewables and waste management sectors across Europe. Kooi offers a range of systems with varying specifications, enabling them to secure different types of sites. For more information, visit https://247kooi.com/

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About Bencis Capital Partners

Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf, Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. For more information, visit https://www.bencis.com/nl/

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KKR Acquires Potter Global Technologies

KKR

All Employees to Become Owners in the Company

ST LOUIS, Mo. & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that investment funds managed by KKR have acquired Potter Global Technologies (“Potter” or the “Company”), a leading manufacturer of fire and life safety equipment, from Gryphon Investors. KKR plans to support the Company in its continued growth organically and through add-on acquisitions. Financial terms were not disclosed.

Headquartered in St. Louis, Missouri, Potter is a trusted global provider of fire safety and emergency communication equipment used by thousands of customers across diverse end markets including education, multi-family, industrial, and healthcare. Potter’s leading products are used for monitoring fire safety systems, detecting fires and other life-threatening events, and notifying and communicating with building occupants and first responders to ensure safe and efficient evacuations and responses.

“For over 125 years, the Potter brand has stood for safety and reliability in the face of potentially life-threatening risks to the thousands of people and institutions around the world who entrust their fire and life safety to Potter. We have been impressed by the Company’s history of innovation and commitment to provide its customers with high-quality, easy-to-use systems supported by incredible customer service,” said Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant strategy. “We look forward to collaborating with Gerry Connolly, the leadership team, and all of the employees at Potter as we embark on this new era in the Company’s growth and develop new ways to serve our customers and protect lives.”

“Potter’s growth is a testament to the performance of our talented team and to our reputation as a leader in the fire and life safety industry. Our mission to protect people, buildings, and critical infrastructure across the globe underpins everything we do, and we are excited to continue furthering this mission with KKR. We are aligned on Potter’s potential and look forward to continue serving our customers through accelerated new product innovation, superior customer service, and an expanded reach domestically and internationally. Implementing KKR’s equity ownership philosophy, which will make every employee an owner, will be instrumental in achieving our potential and we are looking forward to the exciting growth that all employees together will drive as co-owners in Potter,” said Gerry Connolly, CEO of Potter.

KKR will support Potter in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 35 portfolio companies.

Potter is the latest investment for KKR’s Ascendant Strategy, which invests in middle market businesses in North America as part of KKR’s Americas Private Equity platform. Other investments in the Ascendant strategy include Alchemer, 123Dentist, Industrial Physics and a commitment to fund a new executive-led platform designed to acquire and build businesses in the Testing, Inspection, and Certification industry.

Baird and Baker McKenzie served as advisors to KKR.

About Potter:

Potter Global Technologies is the leading independent designer and manufacturer of life safety and emergency communication solutions. Through its various business brands, Potter provides fire suppression, alarm and communications systems, mass notification systems, first responder RF radio communications, and advanced power products. The company motto is “We Save Lives” and their employees appreciate the role they play and value working for a company that is making a difference through protecting people, property and critical infrastructure. Their mission is to make buildings and people safer from fire, natural disasters, and acts of violence. Throughout their longstanding 125-year history of developing industry leading technology, Potter has earned a reputation for best-in-class product quality and customer service. The company is headquartered in St. Louis, Missouri, with sales, engineering, and manufacturing centers in the Americas, Europe, and Asia. Discover more about Potter Global Technologies at www.potterglobaltech.com.

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.

For Potter:
Eric Lauver
ericl@pottersignal.com

For KKR:
Julia Kosygina or Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

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Nordic Capital to sell Consilium Safety Group, a leading and fast-growing provider of innovative SafetyTech

Nordic Capital
  • Under Nordic Capital’s ownership, Consilium Safety Group has made a profound transformation becoming an innovative global leader within SafetyTech in attractive niche markets
  • Consilium Safety Group has invested in organic growth and R&D and has further expanded its global service coverage to protect lives, values and the planet
  • The Company has seen significant increases in sales and almost tripled its profits in three years

Nordic Capital, a leading sector-specialised private equity investor, has entered into a definitive agreement to sell Consilium Safety Group, a leading provider of innovative SafetyTech, to a wholly-owned affiliate of Antin Infrastructure Partners’ Flagship Fund V. During Nordic Capital’s ownership period, Consilium Safety Group has developed to become a global innovation leader in safety technologies specialising in intelligent Fire, Flame and Gas detection within the marine, energy, transport and building sectors.

Following Nordic Capital’s acquisition in 2020, Consilium Safety Group became a stand-alone company fully focused on putting safety first for its customers. Since then, the company has grown significantly and transformed into a leading provider of mission-critical infrastructure in highly demanding and regulated end markets, with a premier standard of global service coverage. Consilium Safety Group has professionalised its organisation and operations, effectively utilising its innovative technology and service platform to expand its top-tier offering to make a lasting, positive impact and continue protecting lives, values and the planet. Revenues have increased from SEK 1.4 bn to SEK 2.5 bn, and EBITDA has almost tripled in three years.

In partnership with the Consilium Safety Group management team, Nordic Capital has focused on Consilium Safety Group’s core strategy and its customer offering within SafetyTech. Significant investments into R&D and innovation, expansion of the product and aftermarket offerings and, commercial initiatives to increase digitalisation and refine operations, have created a more integrated, efficient, and connected organisation. Consilium Safety Group is now well positioned to take its next step with further international growth and innovative product development ahead.

“We are very proud of what Nordic Capital and Consilium Safety Group’s management team has together achieved, creating a leading and innovative company with a global footprint. The plans set out at the time of the acquisition have been successfully executed much earlier than expected. We want to thank the whole team at Consilium Safety Group for their contribution during these years. Consilium Safety Group is now well placed to continue its growth trajectory and outperform the market. This marks the culmination of a very successful partnership and the start of an exciting next phase for Consilium Safety Group,” said Joakim Andreasson, Managing Director, Nordic Capital Advisors.

“Nordic Capital’s operational focus, deep sector insights and expertise in how to fuel global expansion, have been instrumental in the growth of Consilium Safety Group. Together, we have achieved great results quicker than we expected. We thank them for their support and guidance as we take the next step of our journey. As we embark on the next chapter, we are very excited to partner with Antin. We will continue delivering mission-critical safety and operational resilience to our customers and with Antin’s support, we look forward to investing further in the expansion of our offering, capabilities, and presence,” said Philip Isell Lind af Hageby, CEO, Consilium Safety Group.

“We are very impressed by the team at Consilium Safety Group and their commitment to safety, continuous innovation, and customer service. The company has built an extensive international footprint which enables it to support its customers who rely on Consilium Safety Group’s mission-critical infrastructure for their operations,” said Simon Söder, Senior Partner, Antin Infrastructure Partners.

The terms of the transaction were not disclosed. Completion of the transaction is expected in H1 2024, and is subject to customary closing conditions, including relevant regulatory approvals.

Citigroup Global Markets acted as financial advisor to Nordic Capital.

 

Press contacts:

Nordic Capital

Katarina Janerud
Communications Manager, Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Consilium Safety Group

Malin Cardemar
Chief Marketing & Communications Officer
Tel: +46 735 95 32 51
e-mail: malin.cardemar@consiliumsafety.com

Antin Infrastructure Partners
Nicolle Graugnard, Communication Director
Email: nicolle.graugnard@antin-ip.com

 

About Nordic Capital
Nordic Capital is a leading sector-specialised private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.


Consilium Safety Group
Consilium Safety Group is a world-leading solution provider of fire, flame and gas safety technologies for the marine, energy, transport and building sectors. By combining safety expertise with intelligent detection, the company contributes to protecting lives, values, and the planet through technology. What started in 1912 is today an international company driven by innovation. Consilium Safety Group is based in Gothenburg, Sweden, has more than 55 offices, covering all time zones, and strives to be a great place to grow for all its 900 employees.


About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €30 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 220 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0)

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