Tag Archives: Industry

Engelmann joins forces with new partner Rivean Capital to strengthen its position as an international leader in smart submetering technologies

Rivean

Strategic partnership for sustainable growth

  • Engelmann is an international innovation leader in smart submetering technologies for heat, cooling, and water measurement
  • Continued international expansion and ongoing product innovation are at the core of the future growth strategy
  • Smart submetering – Driving data transparency and security as well as sustainable, circular energy use

Wiesloch-Baiertal/Frankfurt – European private equity firm Rivean Capital, together with Engelmann’s management, has acquired a majority stake in Engelmann from funds advised by DPE Deutsche Private Equity. Engelmann, headquartered in Wiesloch-Baiertal, is a leading developer and manufacturer of smart submetering technologies that play a central role in measuring and billing heat, cooling, and water consumption in multi-tenant buildings. The partnership with Rivean Capital will enable Engelmann to strengthen its market leadership and expand into existing and new international markets.

Engelmann employs 210 people across two sites in Germany and one in China. For more than a decade, Engelmann has grown significantly faster than the market, driven by product innovation, portfolio development, and increasing internationalization.

Strategic focus for future growth

“Rivean Capital has convinced us with its expertise and strategic resources that we can achieve our growth targets even faster. The partnership allows us to further enhance our innovation capabilities and expand into complementary markets,” says Michael Keuthen, CEO of Engelmann.

Engelmann is renowned for its end-to-end ecosystem in smart submetering, including innovative heat and water meters that are essential for efficient consumption measurement and billing in multi-tenant buildings. The partnership with Rivean Capital will help to accelerate the development of new products and strengthen Engelmann’s market presence.

“Together with management, we plan to actively shape Engelmann’s next growth phase,” says Alexander Dokters, Director and member of the Investment Team at Rivean Capital. “We see significant potential to further expand Engelmann’s strong market position – particularly through technological portfolio enhancements, consistent internationalization, and targeted add-on acquisitions.”

International market with strong growth potential

The global submetering market continues to show strong growth dynamics. Rising demand for energy-efficient solutions in multi-tenant buildings and increasing connectivity of submetering systems – including real-time data analysis, consumption optimization, and integration into smart home and district solutions – offer Engelmann long-term growth prospects. In recent years, the company has established itself as one of the leading providers of smart submetering technologies.

“With Rivean Capital’s support, Engelmann will accelerate its international expansion while advancing product development in areas such as intelligent submetering systems and software solutions to improve building energy efficiency,” says Dr. Justus Heuer, Partner and member of the Portfolio Enhancement Team at Rivean Capital. “The focus is not only on entering new markets but also on further developing digitalization within the company.”

Commitment to sustainability with a circular economy strategy

Engelmann’s frontrunner circularity approach reduces the product carbon footprint through recyclability and eco-design, supported by a comprehensive circular economy policy. The company focuses on designing products with modular components, durable materials, and improved energy efficiency during use, while ensuring that end-of-life units can be disassembled and reintegrated into production. Initiatives include closed-loop recycling processes, use of recycled materials in new products, and continuous innovation in eco-design to minimize environmental impact across the product lifecycle.

“Engelmann has established itself as a reliable partner in the smart submetering industry, with a clear focus on quality, innovation, customer satisfaction, and sustainability. These values align perfectly with Rivean Capital’s approach of investing in leading companies in the industrial tech sector,” explains Matthias Wilcken, Senior Partner and member of the Executive Committee at Rivean Capital. “We are confident that Engelmann will continue to grow in the coming years, supported by our financial resources and strategic guidance.”

About Engelmann

Founded in 1976 in Wiesloch-Baiertal, Engelmann offers a fully integrated product and service portfolio of heat, cooling, and water meters, electronic heat cost allocators, gateways, software, and data services. With one of the most comprehensive product portfolios in the market, Engelmann is among the few providers offering its customers a complete end-to-end ecosystem. Engelmann delivers more than one million devices annually to customers worldwide, helping them comply with EU Energy Efficiency Directive requirements and enabling accurate, consumption-based billing.

Further information:

The purchase price of the transaction has not been disclosed. Completion is subject to customary conditions, including merger clearance.

Engelmann is Rivean Capital’s seventh platform investment in Germany, alongside Perbility, Dataciders, Green Mobility Holding, ]init[ AG für digitale Kommunikation, Best4Tires, and TonerPartner.

About Rivean Capital

Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage over EUR 5 billion in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean Capital also has offices in Brussels, Frankfurt/Main, Milan, and Zug, enabling a strong local presence across key European markets.

Categories: News

Tags:

MontiPower and Bencis join forces

Bencis

BBOF VI Holding C.V. (“Bencis”), together with CEO Frits Doddema and Monti’s management team, has signed an agreement to acquire Monti TopCo BV and its subsidiaries, including Monti-Werkzeuge GmbH (together “Monti” or the “Company”), from Norvestor VII L.P. and Norvestor VII OS L.P. (“Norvestor”).

Monti is a leading surface preparation technology provider with a consumables-driven business model. The company is globally recognized for its patented rotary bristle blasting solutions, which deliver surface cleanliness and roughness equivalent to blasting, while offering customers a portable, safer, and more environmentally friendly alternative.
With its strong technology and differentiated portfolio, Monti has built a global presence serving industries such as energy, marine, infrastructure and defense. The company has expanded its international footprint, strengthened its global organization and enhanced its product offering, while also investing in automating its production facility. Its solutions are valued for extending asset lifetime while reducing operational complexity and environmental impact.

Together with management, Bencis will further accelerate Monti’s international growth and reinforce its position as a global leader in surface preparation and anti-corrosion, focusing on internationalization, product innovation, as well as selective acquisitions.

About Monti
Monti is a globally renowned producer of innovative rotary bristle blasting technology used for efficient surface cleaning and coating removal to help maximize the long-term protection of customers’ assets. The company has a presence in Germany, Netherlands, Slovakia, Poland, the US, Australia, Singapore and Brazil.
Read more at www.montipower.com

About Bencis
Bencis is an independent investment company with offices in the Netherlands, Germany, and Belgium that supports business owners and management teams in achieving their growth ambitions. Managing six funds totalling €2.2 billion, Bencis has invested in over 80 companies and completed more than 330 follow-on acquisitions since 1999.
For more information, visit: www.bencis.com

Categories: News

Tags:

AICHELIN Group Completes Acquisition of NITREX divisions

Novacap

The AICHELIN Group, one of the world’s leading providers of heat treatment solutions, has finalized the acquisition of the NTS & UPC business units from NITREX Inc., a portfolio company of Novacap, a leading North American private equity investor. The HTS division of Nitrex is not part of the transaction.

With around 250 new employees in the USA, Poland, Germany, France, and China, the AICHELIN Group is expanding to more than 1,350 employees in total, generating combined revenues of approximately 230 million euros. This represents the largest acquisition in the company’s history and marks another milestone in the implementation of its Strategy 2030.

The acquisition expands AICHELIN Group’s technology portfolio with leading expertise in nitriding furnaces and strengthens its presence in key industrial regions. The integration of the NITREX sites will take place step by step, in close coordination with the respective local leadership teams.

“This acquisition is an important step in the execution of our strategy. We want to grow meaningfully, with a strong foundation, local proximity, and technological excellence. Together with NITREX, we are combining know-how and regional strengths for the benefit of our customers, employees, and all stakeholders,” says Christian Grosspointner, CEO of the AICHELIN Group.

Consistent Implementation of Strategy 2030
With its Strategy 2030, the AICHELIN Group has set a clear roadmap for sustainable growth and technological advancement. The focus is on diversification into new industries and applications, driven both by in-house development initiatives and targeted acquisitions. Under the motto “think global, act local”, the emphasis lies on tailoring products, services, and structures to regional market requirements in order to strengthen customer proximity and responsiveness.
With the integration of NITREX, the Group is consistently executing this strategy: the portfolio is being expanded with leading nitriding technologies, while at the same time strengthening its presence in the USA, Europe, and China with additional sites.

About the AICHELIN Group
The AICHELIN Group, headquartered in Mödling near Vienna and part of the Berndorf AG, is one of the world’s leading providers of heat treatment solutions. Its portfolio includes industrial furnaces, industrial heating systems, nitriding systems, control and automation systems, Industry 4.0 solutions, as well as service offerings. The company’s roots date back to 1868. In addition to the traditional AICHELIN brand, the Group includes AFC-Holcroft, SAFED, BOSIO, NOXMAT, and NITREX, making it one of the world’s top three heat treatment companies with around 1,350 employees. The AICHELIN Group operates subsidiaries in Austria, Germany, Slovenia, France, Poland, Turkey, China, India, and the USA. Its global presence is further strengthened by an international sales network. www.aichelin.com

About Nitrex
NITREX is the lead provider of fully integrated heat-treating solutions and technologies globally. The company was founded in 1984 in Montreal, Canada and operates three business units – Nitrex Turnkey Systems (NTS) a leader of turnkey nitriding, nitrocarburizing, and vacuum heat treat systems; Heat Treating Services (HTS) a worldwide network of commercial heat-treating service centers; and UPC, a leading provider of controls upgrade and automation solutions for heat treating and combustion. NITREX serves its customers globally from 14 locations across the United States, Canada, Mexico, Brazil, Germany, Poland, Italy, France, China, Japan, and through a global network of representatives and licensees. For more information, visit: nitrex.com

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $10 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

Categories: News

Tags:

Renta Acquires Tornby Byggmaskiner

IK Partners

Renta Group Oy (“Renta Group” or “Renta”) acquires Tornby Byggmaskiner Holding AB (“TBM” or “the Company”). TBM is a Swedish general rental company operating in the Östergötland region out of three depots. The Company has more than 20 employees and annual revenues of approximately SEK 80 million.

With the acquisition Renta further strengthens its position in Linköping and expands its depot network to Motala and Mjölby. TBM is an excellent addition to Renta’s Swedish operations with its strong profitability and skilled staff. As part of Renta, TBM will benefit from leveraging Renta’s full product range and from implementing Renta’s digital solutions. The strong local market position and experienced management team of TBM creates a solid foundation for continued growth in the region.

The acquisition has been completed.

Joacim Johansson, Managing Director at Renta Sweden, said: “We are very pleased to welcome TBM into Renta. This acquisition is an excellent fit geographically that further strengthens our position in the Östergötland region and marks another step towards our ambition to build a nationwide rental network in Sweden. With TBM’s strong local reputation and capabilities, we see great opportunities ahead. We look forward to working together with the talented team at TBM. “

Elias Andreasson of TBM, said: “We are excited to become part of Renta. By joining forces, we will be able to expand our offering and take on larger projects, while continuing to serve our customers with the same high-quality service as before. Our customers will further benefit from Renta’s digital solutions and broader product portfolio. I am confident that Renta will provide a good home to our employees, and that together we will be able to strengthen our position in the region. ”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. The Company has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 191 depots and more than 2,300 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of general rental depots, Renta is a supplier of specialty rental equipment and services. For more information, visit www.renta.com

Read More 

About TBM

Tornby Byggmaskiner Holding AB is a Swedish general rental company, founded in 2015. The Company has three depots located in Linköping, Motala and Mjölby. For more information, visit www.tbmhyrut.se

Categories: News

Tags:

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.

Categories: News

Tags:

The ODP Corporation to be Acquired by Atlas Holdings in All-Cash Transaction

Atlas Holdings

The ODP Corporation Shareholders to Receive $28 Per Share in Cash, Representing a 34% Premium to Closing Stock Price on September 19, 2025

Transaction to Generate Significant Value for The ODP Corporation Shareholders

BOCA RATON, Fla. and GREENWICH, Conn. (BUSINESS WIRE) – The ODP Corporation (NASDAQ:ODP), a leading provider of products, services and technology solutions to businesses and consumers, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Atlas Holdings, which owns and operates a global family of manufacturing and distribution businesses, for $28 per share in cash. The purchase price represents a premium of 34% to The ODP Corporation’s closing share price on September 19, 2025, valuing The ODP Corporation at approximately $1 billion. Upon completion of the transaction, The ODP Corporation will become a privately held company, and shares of common stock will no longer be listed on the NASDAQ stock exchange.

“This transaction, fully supported by our Board, provides a substantial premium for The ODP Corporation’s shareholders and will improve the company’s position for the next phase of growth,” said Gerry P. Smith, Chief Executive Officer of The ODP Corporation. “Atlas brings an understanding of our industry, along with the operational expertise, resources and track record of supporting its companies that will fast forward our B2B growth initiatives and strengthen our position as a trusted partner to our customers. Atlas’ commitment demonstrates their confidence in our future and the strong momentum we’ve achieved through our focus on operational excellence and disciplined execution. We’re excited about our path for the future.”

“Atlas has a long history of transitioning public companies into successful private enterprises and we are uniquely positioned to do just that with The ODP Corporation – an iconic American company,” said Atlas Managing Partner Michael Sher. “Atlas operates like a diversified holding company, and we have a proven record of delivering the human and financial capital necessary to create long-term value in our businesses. The ODP Corporation’s leadership has already taken several steps to mitigate the challenging retail environment, and we are the right partners to support The ODP Corporation’s continued evolution in its next chapter. We look forward to completing this transaction which will provide a positive outcome for The ODP Corporation’s associates, customers, suppliers and shareholders.”

The Board of Directors of The ODP Corporation unanimously approved the transaction, which is expected to be completed by the end of 2025. The transaction is subject to customary closing conditions, including regulatory approvals and approval by The ODP Corporation shareholders.

J.P. Morgan Securities LLC is serving as exclusive financial advisor and Simpson Thacher & Bartlett LLP is serving as legal advisor to The ODP Corporation. Lazard is serving as financial advisor and Willkie Farr & Gallagher LLP is serving as legal advisor to Atlas Holdings.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products, services, and technology solutions through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 29 companies which employ more than 60,000 associates across 375 facilities worldwide. Atlas operates in sectors such as automotive supply, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas’ companies together generate more than $20 billion in revenues annually.

Categories: News

Tags:

Bencis partners with Omega Group

Bencis

Limbach-Oberfrohna – 18.  September 2025

Omega Group partners with Bencis to build the leading European system supplier of large and complex metal assemblies for the Industrial Technology and Defense sector

BBOF VI Holding C.V. (“Bencis”) has partnered with Omega Group, a leading specialized system supplier of large and complex metal components and modules. Omega Group consists of five companies in Saxony, Germany, offering a wide range of advanced metal processing technologies.

For decades, Omega has been a trusted partner to top-tier Industrial Technology and Defense OEMs, building on long-standing, recurring customer relationships. The company distinguishes itself by its ability to cover the full value chain – from engineering and manufacturing to coating and final assembly – delivering mission-critical solutions at the highest quality standards.

Omega Group offers extensive technological capabilities such as welding, glueing, drilling, milling, cutting, bending and coating which enable the company to provide clients with a holistic offering from a single source. It further stands out through its ability to assemble complex modules bringing together internally and externally sourced components.

Omega Group has continuously invested in its state-of the art machine park and highly skilled employees resulting in today’s strong positioning. Bencis will now support Omega in capturing the unique growth opportunities in the current market environment. As a joint ambition, the partners aim to create a leading pan-European system supplier for the Industrial Technology and Defense sector.
About Omega Group

Omega Group is a producer of complex metal components and modules serving clients from the Industrial Technology and Defense industries. It consists of five entities with complementary capabilities and specialisations, thereby covering a wide range of metal processing technologies. The group headquartered in Limbach-Oberfrohna, Saxony, Germany operates four locations around Chemnitz.
About Bencis

Bencis is an independent investment company with advisory offices in the Netherlands, Germany, and Belgium that supports business owners and management teams in achieving their growth ambitions. Managing six funds totalling €2.2 billion, Bencis has invested in over 80 companies and completed more than 330 follow-on acquisitions since 1999. For more information, visit: www.bencis.com

Categories: News

Tags:

Ahlsell welcomes new investors and extends its partnership with CVC in preparation for further growth

CVC Capital Partners

Ahlsell, the leading B2B industrial distributor of technical products in the Nordics, is pleased to welcome a select group of blue-chip investors into the shareholder base, alongside controlling shareholder CVC and management, to support the next phase of growth.

Founded in 1877 and with headquarters in Stockholm, Ahlsell has a long track record of compounding growth through a combination of organic expansion and acquisitions. During the partnership with CVC over the past decade, Ahlsell has successfully executed on its differentiated multi-vertical strategy, developed its omnichannel presence and completed over 100 synergistic acquisitions. Ahlsell is also a leader in sustainability and was awarded a platinum rating by EcoVadis placing it among the top 1% of rated companies globally.

Claes Seldeby, President & CEO of Ahlsell, comments: “Over the past years, Ahlsell has achieved remarkable results reflecting our strong dedication to improving our value proposition for customers and suppliers. Today, we are a specialist across 12 verticals serving a broad customer base across industry, infrastructure and installation with mission-critical products. CVC’s supportive partnership has been instrumental to this success and we are delighted that they are extending their support. We look forward to continuing to execute our well-defined and ambitious growth plans over the coming years to the benefit of all our stakeholders.”

Quotes

Ahlsell is an exceptional business with a Swedish heritage, a differentiated value proposition, and a leading position in a large and attractive market.

Gustaf Martin-LöfPartner at CVC

Gustaf Martin-Löf, Partner at CVC, said: “Ahlsell is an exceptional business with a Swedish heritage, a differentiated value proposition, and a leading position in a large and attractive market. As the lead investor for more than a decade, we have come to fully appreciate the repeatability of the model and how the growth opportunity has expanded over time as we have deployed the multi-vertical model across the Nordics. We are deeply impressed by the achievements of the management team who have built a resilient champion addressing the maintenance and repair needs as well as the structural investments in industry and infrastructure in the Nordic economies. We are pleased to welcome new investors on this continued journey.”

The transaction is expected to close in Q4 2025. BofA Securities and Lazard acted as financial advisors to CVC who will remain the controlling shareholder post completion.

Categories: News

Tags:

KKR Completes Tender Offer for Topcon

KKR

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today the completion of its tender offer for the common shares and stock acquisition rights, etc. of Topcon Corporation (“Topcon” or the “Company”; TSE stock code: 7732) on September 10, 2025. The tender offer was made through TK 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 84,648,472 common shares and stock acquisition rights (equivalent to 100,000 shares post-conversion) of Topcon, representing a total ownership ratio of 80.32%. This result exceeds the minimum threshold of 50.10% required to privatize the Company and facilitate a management buyout. Settlement will commence on September 18, 2025.

In addition to the Topcon shares acquired through the tender offer, the Offeror aims to acquire all remaining shares through either a share transfer or a share consolidation process to achieve full ownership of Topcon. In the event a share consolidation will be implemented, an extraordinary shareholders’ meeting is planned for early November.

Topcon leverages its optical and precision measurement technologies to provide leading global hardware product development and manufacturing, while also delivering unique digital transformation solutions that integrate IoT platforms, AI, and other advanced technologies. Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its “Mid-Term Management Plan 2025” covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into “New Topcon 2.0,” a business structure that will further accelerate the competitiveness of the Topcon Group.

KKR is making this investment predominantly from its Asian Fund IV.

This press release should be read in conjunction with the “Notice Regarding the Results of the Tender Offer for Topcon Corporation (Securities Code: 7732)” which is available on TDNet and Topcon’s website.

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 KKRs 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.

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

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

Source: KKR

Categories: News

Tags:

Emerald leads $14M investment in Xampla, accelerating the replacement of single-use plastics

Emerald

CAMBRIDGE, UK – Emerald Technology Ventures, a global leader in climate-tech venture capital, has led a $14m of investment round in Xampla, a University of Cambridge spin-out that has created world-first natural materials from plant protein, to replace the world’s most polluting plastics. Other investors include BGF and Matterwave Ventures, and the funding will support more than ten billion units of single-use plastic replaced with Xampla’s Morro™ materials in the next five years, including plastic linings found in takeaway boxes, coffee cups and sachets.

Investors, including Neil Cameron of Emerald, and CEO Alexandra French of Xampla

Global plastic production is estimated to rise to a billion tonnes annually, and with less than 10% of plastic ever produced being recycled, there are now 8 billion tonnes of plastics and microplastics in our global environment. Xampla’s Morro materials offer a world-first natural polymer alternative. Made from abundant and natural plant protein feedstocks, including peas, rapeseed and sunflower, the materials are completely PFAS and plastic-free, and exempt from the European Union’s Single-Use Plastic Directive (SUPD).

Through partnerships with big names such as 2M Group of Companies, Huhtamaki and Transcend Packaging, Xampla has already replaced polluting coatings on boxes used by food delivery giant Just Eat Takeaway and Bunzl Catering Supplies. Unlike plastic, Morro™ Coating maintains the recyclability of cardboard without compromising on grease, oxygen and moisture barrier properties. The company’s Morro™ films, being commercialized through global partnerships, are soluble, giving them the potential to replace polluting plastic PVA films in dishwasher tablets and laundry pods.  They are also food-safe and can be used as edible replacements for packaging a wide range of single-serve products, from sweets to soups.

In addition, Xampla is working in partnership with leading FMCG brands and fragrance houses to deploy Morro™ materials in place of harmful plastic microencapsulates used to convey scents and active ingredients in homecare and beauty products.

Xampla’s Chief Executive, Alexandra French, said:

“This is a major vote of confidence for our revolutionary replacements for polluting plastics, and will see us expanding into Asia Pacific as well as growing in the UK and Europe. We have proven to investors and to brands that Morro™ materials are the real deal in making plastic a material of the past.  In just the next five years, Xampla will replace ten billion pieces of single-use plastic.  This is the technology industry has been crying out for. Our ambition now is nothing less than to see our products – proudly bearing their Morro marque – become the world’s go-to plastic replacement.”

Neil Cameron, Partner in Emerald’s sustainable packaging investment fund, added:

“Working with Xampla is part of our mission to turbocharge a revolution in innovative packaging. This technology hits the sweet spot I search for: a big solution to a big problem that can reap big rewards. And with its current global traction, there is huge potential to scale even further. The global barrier coatings market alone is set to be worth over $30bn by 2032, and that is just the beginning.”

Rowan Bird, Investor at the BGF, said:

“Xampla’s technology stands out as a truly scalable and practical alternative to plastic. Its patented, entirely natural and PFAS-free material is not only strong in performance but also drop-in ready for existing manufacturing lines, making it an attractive option for brands looking to adopt more sustainable solutions. We believe in the strength of the team, the quality of the product, and the positive role Xampla can play in helping reduce reliance on polluting plastics. We’re excited to support their continued growth as they bring this innovation to more partners and applications.”

Ines Kolmsee at Matterwave Ventures, added:

“Xampla’s mission fully aligns with ours: they are tackling a major sustainability issue with smart technology that can be used in existing manufacturing equipment, making it both easy to adopt and capital efficient. What really wowed us is their global team.  These are real experts, drawing on the best science from the University of Cambridge and elsewhere.  But this isn’t an academic exercise. They have got their product out of the lab and into the market.  It is a remarkable achievement and I know they will now go from strength to strength.”

For more information: www.xampla.com/morro-materials

More on Packaging and Materials at Emerald:

Shaping the Future of Packaging: Emerald’s Formed Fiber Sprint

Packaging and Materials

Emerald Invests in Cajo Technologies, Sustainable Laser Marking Leader

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm, founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with four current funds, hundreds of venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups.

This is Emerald.

Bold Ideas. Bright Future.  www.emerald.vc

CONTACT FOR EMERALD:

info@emerald.vc

About Xampla and Morro™ materials

Xampla is a materials innovation company unlocking the power of plants to create natural materials that change the world. Its range of world-first Morro materials are natural alternatives developed to address the plastic pollution crisis, and have been designed to eliminate the worldʼs most polluting plastics.

400 million tonnes of plastic waste produced every year globally according to figures from the  United Nations.. Morro™ materials re designed to leave nothing harmful behind.

Made from plants with no chemical modification, they are completely plastic-free, home compostable, fully biodegradable, and SUPD exempt. In scaling their Morro™ materials, Xampla has partnered with leading organisations including 2M Group of Companies, ELEMIS Skincare, Transcend Packaging, Just Eat and Gousto.

Find out more at www.xampla.com/morro-materials

Media contact:

Catherine Kitchen
Catherine@higginsonstrategy.com
+44 7763 671 844

Categories: News

Tags: