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padoa Announces Strategic Growth Investment from Thoma Bravo’s Europe Fund Alongside Co-Founders and Existing Shareholders, Five Arrows and Kamet Ventures

Thomabravo

PARIS, France – padoa, the European leader in occupational health, safety and prevention software, today announced a strategic growth investment from Thoma Bravo, the world’s largest software-focused investment firm. The investment is being made through Thoma Bravo’s Europe Fund, with significant participation from padoa’s co-founders and existing shareholders Five Arrows, the alternative assets arm of Rothschild & Co, and Kamet Ventures.

padoa is one of the leading next-generation prevention platforms dedicated to occupational health centres, employers, and employees. Its products enable more effective service delivery, health prevention, and compliance amid increasing structural and regulatory requirements.

This investment is designed to accelerate padoa’s mission to improve the health of millions of people and enable padoa to further invest in AI capabilities, customer service, international expansion, particularly in the DACH region, and product innovation.

Cédric Mathorel, Co-Founder, President and CEO of padoa, said: “We are excited to welcome Thoma Bravo as a new partner at a pivotal moment in padoa’s journey. As we accelerate our international expansion and navigate one of the most significant technological shifts our industry has ever experienced with the emergence of AI, we believe Thoma Bravo’s expertise will help us scale faster, innovate further, and continue delivering category-leading software to occupational health professionals across Europe.

At the same time, this new chapter is built on continuity. I would like to sincerely thank Five Arrows and Kamet for their unwavering support over the years and for renewing their confidence in padoa by continuing this adventure alongside us. Their commitment, together with our founders and management team, reflects a shared conviction in the strength of our mission and our long-term vision.”

Irina Hemmers, Partner, and David Tse, Principal at Thoma Bravo, said: “padoa is a compelling addition to our European partnerships, and we see a significant opportunity to support the company as demand for better care and supportive technology accelerates across Europe. This strategic growth investment reflects our continued commitment to backing the strongest software companies in the region and supporting them in becoming European champions.”

Stéphane Guinet, Chairman of Kamet Ventures, said: “As venture builders, we are incredibly proud to have conceived, incubated, and helped scale padoa alongside its outstanding founding team from day one. Having established itself as a leading technology platform for occupational health, padoa is exceptionally well positioned for its next chapter. We are more excited than ever about the company’s future and delighted to partner with Thoma Bravo to support its continued growth and ambition.”

Jean-Daniel Bertoncini, Partner at Five Arrows, added: “We are proud to have supported padoa’s talented founders and team through an exceptional growth journey over the past four years. We are strong believers in padoa’s mission to enable occupational health professionals to protect workers’ well-being through technology solutions that are both effective and easy to use. We are excited to partner with Thoma Bravo to fuel padoa’s ambition of bringing world-class AI into occupational health centres.”

Thoma Bravo has been investing in Europe for 15 years, having deployed over €14 billion of equity across 17 transactions in the region. Its dedicated €1.8 billion Europe Fund, which closed in 2025, focuses on middle-market software businesses across core European markets, with the goal of supporting founders and management teams in scaling their businesses into European industry leaders. Since 2023, the European team has made four investments across the Netherlands, Germany and Sweden, including the €400m take-private of EQS Group and growth investments in USU, Hypergene and LOGEX.

About padoa

Founded in 2016, padoa is a leading occupational health technology platform in France, serving occupational health services, healthcare professionals, employers, and employees through a fully integrated digital ecosystem. The company’s mission is to equip occupational health professionals with the best technology, enabling better prevention, improved care pathways, and healthier workplaces. Today, padoa supports millions of employees and thousands of healthcare professionals, helping transform occupational health through innovation, efficiency, and collaboration. Guided by a strong purpose and values-driven culture, padoa is committed to shaping the future of occupational health in France and across Europe. Learn more at padoa.fr.

About Thoma Bravo

Thoma Bravo is the world’s largest software-focused investment firm, with more than $172 billion in assets under management as of March 31, 2026. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in approximately 590 software and technology companies, representing approximately $320 billion of aggregate enterprise value (including control and non-control investments, as well as add-on acquisitions).  Learn more at thomabravo.com and on LinkedIn.

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has €33 billion in assets under management1, with offices in Paris, London, New York, Los Angeles, San Francisco, and Luxembourg.

With €13 billion of assets under management1, the corporate private equity business of Five Arrows is focused on investing in companies with strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to healthcare, data and software, and technology-enabled business services.

For more information, please visit https://www.rothschildandco.com/en/five-arrows/corporate-private-equity/

Five Arrows Managers (USA) LLC is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Five Arrows Managers (USA) LLC, including our investment strategies, fees and objectives is available upon request.

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Main Capital Partners closes landmark €5.25bn dual fundraise in under six months

Main Capital Partners

Main Capital Partners, a specialized European Enterprise Software investor, announces today that Main Capital IX and Main Foundation III have together closed over €5.25 billion in commitments, marking the largest private equity buyout fundraising initiative ever in the Netherlands.

  • Main Capital IX and Main Foundation III have secured €5.25 billion in commitments in the final closing, reaching their hard caps of €4 billion and €1.25 billion, respectively, and marking the largest private equity buyout fundraising initiative ever in the Netherlands.
  • The two funds represent a more than twofold increase over predecessor funds Main Capital VIII and Main Foundation II and increase Main’s total Assets under Management to over €12 billion.
  • Main’s existing LP base demonstrated strong continued conviction, reflected in a re-up rate exceeding 120%.
  • With these new funds, Main plans to expand into the United Kingdom, alongside its core markets in the Benelux, DACH, Nordics, France, and North America.
  • The level of investor commitments highlights Main’s ability to capture AI-driven growth opportunities in the Enterprise Software industry, supported by the firm’s consistent performance and more than 20 years of lower mid-market specialization, despite a challenging fundraising and geopolitical environment.

The Hague, June 24, 2026 – Main Capital Partners, a specialized European Enterprise Software investor, announces today that Main Capital IX and Main Foundation III have together closed over €5.25 billion in commitments. Main Capital IX closed at a hard cap of €4 billion and Main Foundation III reached a hard cap of €1.25 billion, together representing a more than twofold increase over their predecessor funds and increasing Main’s total Assets under Management to over €12 billion. Both funds were oversubscribed, reflecting sustained and growing investor demand for Main’s highly differentiated lower mid-market Enterprise Software strategy.

In line with prior fundraises, Main received continued support from its existing LP base, with a re-up rate exceeding 120%. Alongside re-ups from existing investors such as Hamilton Lane, both funds also attracted meaningful new commitments from a broadened global institutional investor base. New investors primarily came from the United States, Asia, and the Middle East, and comprised sovereign wealth funds, public pension funds, and insurance companies, including reputable names such as the State Teachers’ Retirement System of Ohio, the Korean Teachers’ Credit Union, and AkademikerPension. The pace and scale of commitments secured, despite a continued challenging fundraising environment and geopolitical tensions, reflect Main’s consistently strong investment performance and its more than 20-year specialization in lower mid-market Enterprise Software buyouts. Over the course of its history, Main has realized 38 exits with a weighted average gross return of 4.7x and a loss rate well below 0.5%.

Main will continue to execute on its proven lower mid-market Enterprise Software strategy, investing equity tickets between €5 and €150 million in profitable, resilient software businesses and building these into larger, scalable cross-border software groups through a combination of organic growth and targeted M&A. Main will maintain its deep focus on its core geographies — Benelux, DACH, the Nordics, France, and North America — and, as a meaningful strategic expansion, will begin actively pursuing platform investments in the United Kingdom with these new funds. The UK represents one of Europe’s most dynamic and mature Enterprise Software markets, and Main’s local operational model and sector expertise position it well to build lasting relationships with software founders and entrepreneurs in that market.

Main is acutely focused on the profound transformation that artificial intelligence is bringing to the Enterprise Software industry. AI is rapidly reshaping how software is built, sold, and scaled, creating a new frontier of growth opportunities across Main’s core product-markets, from HealthTech and GovTech to Infrastructure and PropTech. Main’s proprietary Market Intelligence & Performance Excellence capabilities, combined with an active portfolio of over 55 Enterprise Software companies, position the firm well to identify where AI is generating durable value and to support portfolio companies in embedding AI into their products and operations. Main believes that the convergence of consolidation dynamics and AI-driven innovation makes the current environment one of the most compelling for Enterprise Software investing in the firm’s two-decade history.

We believe AI is unlocking a new wave of growth and value creation opportunities, and Main’s deep sector expertise, proprietary data capabilities, and disciplined operational approach position the firm well to capture this opportunity for our portfolio companies and our investors alike.”

– Charly Zwemstra, Founder and Chief Investment Officer at Main

Charly Zwemstra, Founder and Chief Investment Officer at Main, said: “Main was among the first movers in European software buyouts, and for more than two decades we have built an unrivalled track record of creating larger, more resilient software groups from the lower mid-market. Securing commitments for Main Capital IX and Main Foundation III of over €5 billion is a powerful validation of our strategy and of the enduring trust that our LP base places in us. We stand at an inflection point for the Enterprise Software industry: we believe AI is unlocking a new wave of growth and value creation opportunities, and Main’s deep sector expertise, proprietary data capabilities, and disciplined operational approach position the firm well to capture this opportunity for our portfolio companies and our investors alike.”

Jorn de Ruijter, Partner and Head of Fund Structuring & Investor Relations at Main, said: “The speed and scale at which we secured over €5 billion in commitments, surpassing our prior combined fundraise more than twofold, is a direct testament to Main’s long-term investment performance and the depth of our LP relationships. A re-up rate of more than 120% is something we are truly proud of; it reflects not just confidence in our track record, but genuine conviction in what we are building at Main. We are grateful to both our existing and new investors for their trust. With Main Capital IX and Main Foundation III, we are well-equipped to continue driving the consolidation in the fragmented European & US software markets, to expand into the United Kingdom, and to pursue the opportunities that AI is creating across the Enterprise Software industry.”

Main did not use a placement agent for the fundraising and Loyens & Loeff acted as legal counsel.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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Pollen Street agrees acquisition of Universal Banking, Finastra’s core banking solution division

Pollenstreet

Pollen Street Capital (“Pollen Street”) today announces the acquisition of Universal Banking (“UB”), a leading provider of mission-critical core banking software to over 150 financial institutions worldwide, in a carve-out from Finastra.

UB’s core banking platforms sit at the heart of its customers’ operations, powering transaction processing, account and deposit management, lending and treasury for retail, commercial and corporate banks. UB is an established player in international core banking recognised for its end-to-end offering with rich functionality and a track record of serving diverse customers ranging from global and regional institutions to digital banks, Islamic banks and building societies in over 100 countries.

Essence is UB’s next-gen, cloud-first, open platform with rich functionality, powerful APIs, advanced analytics and agile workflows – primed for GenAI integration and further expansion of offering to clients seeking increased automation. Award-winning and recognised by industry analysts as a leading platform, Essence is positioned well to continue to win in the market and to serve as the go-to future-proof platform for UB’s existing customers.

Demand for core banking modernisation continues to grow as banks look to migrate from legacy systems to improve agility and operational efficiency. UB is at the forefront of this trend, working with banks to modernise legacy systems, accelerate product innovation, reduce cost-to-serve, move workloads to the cloud, and deploy AI capabilities while delivering exceptional customer service. It also supports the needs of fast-growing challenger banks, digital startups, Fintechs, Islamic financial Institutions, and building societies.

Pollen Street’s backing will support UB through its carve-out from Finastra, strengthen its commercial capabilities, and provide the investment needed to accelerate product development and deployment of GenAI to best serve UB’s customers.

Chris Walters, Chief Executive Officer of Finastra, said: “Universal Banking is a strong business with talented people, proven products, and deep customer relationships. Under Pollen Street Capital, it will have the dedicated focus and investment to build on that strength. For Finastra, this sharpens our focus on payments and lending – areas where we see significant opportunity to grow and deliver more value for our customers.”

Anastasia Kovaleva, Partner at Pollen Street, added: “UB is a high-quality business with a strong foundation: mission-critical software, long-standing customer relationships and a clear pathway for growth through modernisation of the existing customer base and acceleration of new wins with a now proven modern platform. We are also excited about working with UB management team to deploy GenAI into banks, which we see as a very significant opportunity. UB is s exactly the type of resilient, differentiated specialist business with multiple value creation levers that we like to back.”

The acquisition reflects Pollen Street’s strategy of backing specialist financial services and technology businesses in attractive markets, with deep customer relationships, leading positions, and clear opportunities for organic and inorganic growth. UB will operate as a standalone entity led by its existing management team. The transaction remains subject to regulatory approvals.

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Montagu to Acquire Majority Stake in BMC Helix in a Carve-out Transaction from KKR-owned BMC Software

KKR

LONDON and NEW YORK, June 17, 2026 — Montagu, a leading mid-market private equity firm, has agreed to acquire a majority stake in BMC Helix (“Helix” or “the Company”) in a carve-out transaction from BMC Software (“BMC”). Funds managed by KKR, a leading global investment firm, will maintain ownership of BMC, the automation company for the AI era, which will also retain a minority stake in Helix. KKR acquired BMC in 2018 through its twelfth Americas Private Equity fund.

Helix is a leading agentic AI ServiceOps platform powering mission-critical service and operations management solutions used by thousands of blue-chip organisations worldwide across financial services, healthcare, insurance, retail, and other sectors. With offices in Sunnyvale, CA, Helix operates in a large, structurally growing market driven by increasing enterprise digitisation, rising IT complexity, and growing operational resilience requirements.

Helix has made significant investments to unify service and operations (AIOps) with native agentic AI capabilities, delivering enterprise AI beyond surface-level automation. Building on its long heritage of innovation, Helix has been a first mover in applying agentic AI across service and operations workflows, positioning it at the forefront of AI-enabled enterprise operations and orchestration.

As enterprise software enters the AI era, BMC and KKR recognised that Helix’s next phase of growth would be best accelerated as a standalone company singularly focused on ServiceOps and agentic AI. Helix will continue its culture of customer centricity through ongoing product innovation and a sharpened strategic focus, benefiting from Montagu and KKR’s extensive experience investing in the technology space.

The transaction reflects Montagu’s deep expertise partnering with mission-critical software and technology businesses, alongside its strong track record supporting companies accelerate their growth as independent businesses. Montagu is a market leader in carve-out transactions, with nearly 40 successful carve-outs executed since 2002.

Christoph Leitner-Dietmaier, Partner at Montagu, said: “Helix is a highly strategic and deeply embedded platform supporting some of the world’s most complex enterprise IT environments. Helix combines deep domain knowledge, a culture of innovation, and trusted customer relationships with significant opportunities for further operational acceleration as an independent business. We look forward to partnering with Ali Siddiqui and the management team, as well as KKR, to support Helix in this next phase of growth.”

Ayman Sayed, President and CEO of BMC, said: “We believe this transaction positions both BMC and Helix to move faster and stay sharply focused on their respective core priorities. BMC, alongside KKR, will continue to support Helix’s journey by retaining a minority stake, and we are confident in what lies ahead.”

Ali Siddiqui, CEO of Helix, said: “This transaction marks a significant milestone for Helix. As we enter this next chapter, we share a strong conviction that agentic AI will transform the enterprise IT operating model. Trusted by thousands of customers as the system of record for IT operations, assets, and change, Helix is uniquely positioned to power enterprise-grade AI outcomes. With Montagu’s partnership, we will build on our market leadership, accelerate AI innovation, and continue delivering exceptional value to our customers.”

The completion of the transaction remains subject to receipt of regulatory approvals and satisfaction of customary closing conditions.

Perella Weinberg served as financial advisor to Montagu, and Kirkland & Ellis served as legal advisor. Jefferies LLC served as financial advisor to BMC and Helix, and Simpson Thacher & Bartlett LLP served as legal advisor.

About Montagu

Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. Focussing on businesses with a must-have product or service in a structurally growing marketplace, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock their full potential. Montagu specialises in carve-out and other first time buyout investments and has deep expertise in five priority sectors: Healthcare, Financial Sector Services, Critical Data, Digital Infrastructure and Education. ESG forms an integral part of its strategy, and its commitment to responsible investment is fully integrated into its investment and value-creation process. Montagu has €15bn assets under management.

For additional information on Montagu, visit www.montagu.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.

About BMC Helix

BMC Helix helps the world’s most forward-thinking IT organizations reset the economics of IT — bringing IT services, AIOps, and agentic AI together so busywork disappears, incidents are prevented, and compliance just happens. With an industry-leading, open-first platform, BMC Helix’s dynamic fleet of AI agents augment work across enterprise IT service and operations management to accelerate outcomes for ServiceOps. Learn more at www.helixops.ai.

Helix and other Helix marks are exclusive properties of BMC Helix, Inc. and are registered or may be registered with the U.S. Patent and Trademark Office and in other countries.

BMC, BMC Software, the BMC logo, and other BMC marks are the exclusive properties of BMC Software, Inc. and are registered or may be registered with the U.S. Patent and Trademark Office and in other countries.

©Copyright 2026 BMC Helix, Inc.

About BMC

BMC is the automation company for the AI era. 80% of the Forbes Global 100 trust BMC to automate and orchestrate the systems on which their businesses depend. Across cloud, mainframe, and hybrid environments, BMC enables enterprises to operate with AI–driven speed, resilience, and governance at scale. When businesses run what cannot fail, they start with BMC first.

BMC, BMC Software, the BMC logo, and other BMC marks are the exclusive properties of BMC Software, Inc. and are registered or may be registered with the U.S. Patent and Trademark Office or in other countries.

©Copyright 2026 BMC Software, Inc.

https://www.bmc.com/

Media Contacts:

Montagu 
Greenbrook: James Madsen, Cecilie Oerting
+44 20 7952 2000 | montagu@greenbrookadvisory.com

KKR
media@kkr.com

Helix
madeline@helixops.ai 

BMC
sheila_watson@bmc.com

 

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Quality Guard strengthens its European position with the acquisition of Kooklin.

GIMV

Roeselare, 2 June 2026 – Quality Guard announces the acquisition of French software company Kooklin, a leading provider of digital solutions for food safety and HACCP management. With this acquisition, Quality Guard accelerates its international growth strategy and reinforces its position as one of Europe’s leading players in the food safety sector.

Kooklin is one of the leading players in the French market and benefits from a strong and loyal customer base across the country. Through this acquisition, Quality Guard strengthens its presence in France, one of Europe’s largest foodservice and hospitality markets. The transaction forms part of the company’s broader growth strategy, in which targeted acquisitions complement and accelerate the company’s strong organic growth. It is the second acquisition since investment company Gimv joined Quality Guard as a strategic partner in November 2025.

Quality Guard develops software that digitalises and automates food safety, allergen management, traceability and HACCP processes for more than 9,000 customers across Europe. Its clients include hospitality businesses, supermarkets, bakeries, butcher shops, catering companies, food producers, healthcare institutions and hospitals. By combining intelligent automation with human expertise, the company helps organisations efficiently comply with increasingly stringent European food safety and compliance regulations.

“With Kooklin, we are taking an important step in our European growth strategy,”says Achile Van Gierdegom, CEO of Quality Guard.“France is a key market for us. We share the same vision as Kooklin: making food safety simpler, more efficient and scalable through technology. Together, we will be able to support customers even better in a sector that is rapidly digitising.”

The European market for food compliance and food safety software is growing strongly due to stricter regulations, increasing complexity and the need for digital monitoring. A large part of the sector still relies on paper-based processes. As a result, demand for automated solutions continues to grow structurally.

The acquisition aligns with the shared ambition of Quality Guard and Gimv to further grow into the European market leader in food safety software. In line with this vision, the company intends to continue consolidating a fragmented European market and to develop additional technological innovations.

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Rightsline announces $500 million strategic growth investment from Hg to accelerate AI innovation and global expansion

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HG Capital

Los Angeles, CA – May 27, 2026: Rightsline, a leading provider of rights and royalties management software for IP-intensive industries, today announced a $500 million strategic growth investment from Hg, a leading investor in transatlantic technology businesses.

Klass Capital, Rightsline’s majority owner since 2020, Salem Partners, and the broader management team will invest meaningfully alongside Hg, reflecting their continued confidence in the business.

The global proliferation of streaming platforms, cross-border content licensing, and IP-intensive business models has created a growing operational challenge for rights holders, who need to track who owns what, where, and ensure the right parties get paid. Rightsline provides the software that major studios, publishers, consumer brands, and life sciences firms use to manage that complexity at scale.

Originally established as a leader in media and entertainment rights management, Rightsline now operates across eight IP-intensive verticals and serves more than 300 of the largest organisations worldwide, across media and entertainment, publishing, consumer products, life sciences, technology, gaming, music and franchising. The company offers a truly unified rights and royalties platform, with a single system spanning rights management, royalty calculation, financials, and accounting, delivering audit-grade outputs. The platform processes more than $40 billion of royalties annually and manages over 150 million IP assets across 28 countries.

 

2025 was a year of record growth for Rightsline across bookings, revenue and retention, reflecting the mission-critical role the platform plays in its customers’ day-to-day operations. This momentum continued into 2026 with another record quarter in Q1.

The company has already launched a suite of AI-powered products for its customers, including an AI contract ingestion assistant that automates extraction of key terms from complex legal agreements, and a natural-language rights and availabilities assistant that enables users to interrogate their rights libraries in plain English.

Hg’s investment will accelerate Rightsline’s product and AI roadmap and support the company’s international expansion, drawing on Hg’s transatlantic network and its team of more than 100 AI specialists. This includes Hg Catalyst, its dedicated AI product incubator, which has supported the launch of more than 30 AI products across its portfolio to date.

Patrick Arkeveld, CEO of Rightsline, said: “The IP landscape has become increasingly complex, with more platforms, territories, and contractual complexity than ever. That creates a clear opportunity for us to innovate on behalf of our customers and make their lives meaningfully easier, but more crucially to drive better business outcomes. Farouk and the Hg team are the ideal partner to help us deliver on that ambition, combining deep AI and operational expertise to accelerate our product roadmap and a transatlantic network to support our expansion into new geographies and verticals. We’re also grateful for the continued support of Daniel and Klass Capital, whose reinvestment reflects the shared conviction we all have in what lies ahead.”

Farouk Hussein, Partner at Hg, said: “Patrick, Daniel, and the Rightsline team have built something genuinely exceptional. Rightsline provides a truly unified rights and royalties platform, bolstered by proprietary calculation engines, data, and algorithms, enriched with decades of domain experience. The company boasts an impressive roster of blue-chip customers and a consistent track record of sustained growth and retention that speaks to how deeply embedded the product is in its customers’ legal, sales, finance and operations workflows. Rightsline is incredibly well-positioned to expands its presence across its core verticals with this growth investment, and we’re excited to work hand-in-hand with management and our Hg Catalyst team to build the next generation of agentic AI products for IP lifecycle management.”

Daniel Klass, Founder of Klass Capital, said: “Patrick and the team have built Rightsline into a clear global leader in rights and royalties software. When we set out to find our next partner, we wanted a firm that shares our growth ambitions and has the operational depth – particularly in AI and international scaling – to help take the company to the next level. Hg was the clear choice, and our decision to reinvest meaningfully alongside them reflects our strong conviction that the best chapter for Rightsline is still ahead.”

Donna Laing, Vice President, Royalty Accounting & Rights Data Management, Scholastic, said: “In publishing, royalties vary by channel, format, territory and more, and simply knowing what we have the right to sell in each market can be incredibly complex. Keeping track of all that, and making sure the right people get paid accurately, is a real operational challenge. Rightsline handles that complexity for us and, as the publishing world continues to grow more complex, we’re excited to see Hg’s investment accelerate what’s already an industry-leading platform.”

As part of the investment, Farouk Hussein and Annie Wei from Hg will join the Rightsline board alongside Daniel Klass and Patrick Arkeveld. Ron Kasner will join as independent Chair given his multi-decade experience in scaling technology companies.

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Oakley Capital invests in enterprise software platform XTEL

BainCapital

LONDON – May 26, 2026: Oakley Capital, a leading mid-market, pan-European private equity investor, is pleased to announce it is acquiring a majority stake in XTEL, a leading provider of revenue management and trade promotion software for consumer packaged goods companies, from existing shareholders Bain Capital and SilverTree Equity.

XTEL’s software platform enables consumer packaged goods companies, including food, beverage and household brands, to plan, manage and optimise the trade promotions they run with retailers. The platform analyses large amounts of sales, pricing, customer and financial data to help businesses manage and optimise promotions in order to improve
profitability and drive revenue growth.

The Company serves more than 400 global mega-brands, including Unilever, PepsiCo and Johnson & Johnson, and supports over €350 billion in annual trade spend.

XTEL operates in an $11 billion CPG software market underpinned by structural tailwinds, including sustained pressure on CPG margins, retailer consolidation, improved access to consumer data, and growing omni-channel complexity. At the same time, rapid adoption of AI and data-driven decision-making is accelerating demand for best-in-class platforms such as XTEL.

XTEL’s software brings together large amounts of complex sales and commercial data into one system that customers rely on as a core system of record. Combined with the Company’s deep industry expertise, this creates a highly embedded and mission-critical solution. AI is expected to further enhance the platform’s capabilities, enabling customers to make faster and better decisions using the data already managed within XTEL.

XTEL has consistently generated strong, profitable growth including ARR growth of c.40% CAGR over the last three years. Oakley Capital will leverage its extensive track record of supporting European software businesses to drive growth through international expansion and M&A. This investment will support XTEL in accelerating its presence in key growth markets such as Latin America and Asia-Pacific, while also expanding into adjacent geographies, brands and product categories, and further strengthening its AI tech stack, sales capabilities and go-to-market strategy.

XTEL will continue to be led by Rob Mullen, a highly experienced enterprise software CEO who has transitioned XTEL to a system-of-records SaaS platform, while successfully pursuing organic and M&A growth.

Oakley Capital co-Founder and Managing Partner Peter Dubens said: “XTEL’s software is trusted by the world’s leading consumer brands to power essential workflows, while its deep expertise in complex data underpins its role as a critical system of record. We believe the Company is well-positioned to harness AI to enhance its product offering and further strengthen its market position. We look forward to working with CEO Rob Mullen to support the next stage of XTEL’s growth.”

Bain Capital’s Giovanni Camera, Alberto De Antoni and Paolo Vismara said: “From the outset of our investment in Kantar, we identified XTEL as a high-potential software business with the ability to become a focused, independent leader in its market. Since then, we have supported the Company’s carve-out and invested behind its growth, and it has been exciting to see XTEL evolve into a leading high growth global software platform for revenue growth management in the CPG industry. We are proud of what Rob and the entire XTEL team have achieved, and confident the business is well placed to continue its growth journey with Oakley Capital.”

SilverTree Equity Partners John Messamore and Nicholas Theuerkauf, added: “We are proud to have backed XTEL through its separation from Kantar. In the past four years XTEL has tripled its ARR and has been transformed into the leading independent AI-enabled revenue growth management platform serving global CPG companies. It has been a pleasure working with Rob and the team and we are delighted to be remaining invested to support XTEL’s next phase of growth.”

XTEL CEO Rob Mullen said: “I’m very pleased to welcome Oakley Capital as our new investor after a successful partnership with Bain Capital and SilverTree Equity.  Their combined expertise in building European technology champions is highly relevant for XTEL as we look to accelerate our growth by expanding into new regions, products and industry verticals.”

Evercore served as exclusive financial advisor to XTEL, Bain Capital and SilverTree Equity.

ENDS

About Oakley Capital 
Founded over 20 years ago, Oakley Capital was established to be the partner of choice for exceptional founders and entrepreneurs. We invest in private, pan-European businesses with enterprise values ranging from €100 million to over €1 billion. Our team comprises more than 250 professionals across our offices in London, Munich, Milan, Madrid, and Luxembourg, providing genuine European reach combined with deep local expertise and cultural insight. Through our differentiated origination capabilities, we uncover attractive investment opportunities across four core sectors: Technology, Consumer, Education, and Business Services. We prioritise long-term, repeat partnerships with outstanding founders, many of whom choose to reinvest in our funds. To date, we have raised nine funds, including Fund VI, which closed at its €4.5 billion hard cap in 2025. Across the Group, Oakley manages in excess of c.€16 billion on behalf of our investors, generating consistently strong returns for all our stakeholders. www.oakleycapital.com

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We create lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a collaborative culture that enables us to innovate, unlock opportunity, and deliver strong outcomes. Our global platform invests across Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. Across these focus areas, we bring deep sector expertise and broad capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X.

About SilverTree Equity
SilverTree Equity is a private equity firm, with ~$1bn AUM, focused on control buyouts of middle market software and tech-enabled services companies run by an experienced team of investment and operating professionals with backgrounds at leading global private equity firms including Hg Capital, Marlin Equity Partners and Advent International. SilverTree has completed 30 transactions since late 2019. For more information, please visit www.silvertree-equity.com.

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Sociabble joins forces with Poppulo to accelerate the future of employee experience

Ardian

Ardian, a global private investment firm, announces that its portfolio company Sociabble will join Poppulo, a Vista Equity Partners backed global leader in software for employee experience and digital signage, with a presence in Europe and the US. Trusted by large global enterprises, it serves more than 10,000 customers reaching over 50 million employees worldwide, supported by communications and digital signage software that powers more than 600,000 screens, globally.

During its partnership with Ardian, Sociabble has confirmed itself as a leading employee communication and engagement SaaS platform, recognized for its strong product innovation and customer proximity. Its solution combines intranet, mobile-first frontline communication, knowledge management, employee engagement, advocacy, and advanced AI-powered capabilities, enabling organizations to better connect and engage their workforce.

The combination with Poppulo creates significant opportunities for Sociabble to accelerate its growth. Together, Sociabble and Poppulo will help organizations reach, inform, engage, and activate more than 50 million employees worldwide through a broader, AI-powered Employee Experience platform. This operation will also give Sociabble more visibility and more resources to continue investing in the areas that have always been central to its DNA: innovation, AI, customer success, enterprise-grade security, and measurable business value.

“This new chapter for Sociabble is a strong recognition of the excellence of our team and the quality of our platform. I would like to sincerely thank Ardian for their unwavering support and for consistently demonstrating a true entrepreneurial mindset alongside us throughout our growth journey. Their partnership has fully met our expectations, and their guidance and commitment have been instrumental in making this transaction a success.” Jean-Louis Benard, CEO, Sociabble

“I would like to thank Jean-Louis for the trust he has placed in Ardian, and to congratulate him and his team on this exceptional journey. It has been a true pleasure working alongside such an ambitious and talented team. Our collaboration is a strong illustration of Ardian’s commitment to supporting management teams in their development projects, helping transform European category champions into global leaders. I wish Sociabble and Poppulo continued success in this exciting new chapter. ” Geoffroy de la Grandière, Managing Director, Ardian

List of participants

  • Ardian

    • Growth investment team: Geoffroy de la Grandière, Léa Wolff, Michelle Stitz

  • Poppulo

    • Management: Ruth Fornell, Alejandro Wyszkowski, Caroline Daly, Nick Reising
    • Corporate lawyers: Vinson & Elkins (Tim Johnston, Hannah Thai, Milam Newby, Katie Holmes)
    • M&A advisor: District Capital Partners (Caitlin Currier, Steven Grillo, Tom Manning, Andy Wang)
    • French legal counsel: Archers (Moïra Boublil, Emily Pabot du Chatelard, Louise Martin, Aurélien Franco)

  • Sociabble

    • Management: Jean-Louis Benard, Laurent Gauthier, Christophe Berly
    • Corporate lawyers: Bird & Bird (Flavie Malval Le Roux, David Malcoiffe, Alban Pontari)
    • M&A advisor: AGC Partners (Sean Tucker, Fred Joseph, Duncan MacGillivray, Killian Campion)

About Ardian

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

About Poppulo

Poppulo is a global leader in AI-powered employee experience and enterprise digital signage, helping organizations connect with their workforce and customers through intelligent, real-time messaging across every channel. The first company in its category to deploy agentic AI—and the first to achieve ISO/IEC 42001 certification, the world’s benchmark for secure, trustworthy AI—Poppulo has defined what it means to bring enterprise-grade artificial intelligence to communications.
Trusted by over 10,000 organizations—including more than 40 of the Fortune 100—Poppulo’s solutions reach more than 50 million employees worldwide. Its digital signage network spans over 600,000 screens globally. By combining certified agentic AI with scalable communications technology, Poppulo helps enterprises boost employee engagement, enhance customer experience, and improve operational efficiency.

poppulo.com

About Sociabble

Founded in 2014, Sociabble is a French SaaS company specialized in Employee Experience. Its unified platform helps organizations inform, engage, and mobilize their employees through a digital experience combining internal communication, modern intranet, knowledge management, employee engagement, and employee advocacy, with AI at the heart of its use cases. With an international presence and teams in Paris, Lyon, Boston, and Mumbai, Sociabble supports major organizations such as AXA, Coca-Cola Europacific Partners, and Primark.

sociabble.com

Press contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com 

POPPULO

tvaughan@poppulo.com 

SOCIABBLE

Barbara Marzari Wibaux

barbara.marzani@sociabble.com 

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Ennov Announces Strategic Growth Investment from Bregal Sagemount and Ardian

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Ardian

Ennov (the “Company”), a global provider of end-to-end regulatory, quality, and clinical software solutions for life sciences and healthcare companies, today announced a strategic growth investment led by Bregal Sagemount (“Sagemount”), a leading growth-focused private equity firm, with participation from Ardian, a global private investment firm. The investment will support the Company’s continued expansion, with a focus on AI innovation, global go-to-market acceleration, and scaling its product offering.

Founded and headquartered in Paris, Ennov provides a unified compliance platform that serves as a centralized system of record for global life sciences organizations. The platform supports the management of content and data across key domains, including Regulatory, Quality, Commercial, Clinical, and Pharmacovigilance. Its integrated architecture and unified data model enable faster deployment, improved user adoption, consistent compliance, and AI-driven efficiency across global operations.

Developed over more than 25 years, Ennov’s software replaces fragmented point solutions and legacy infrastructure, enabling customers to manage complex regulatory requirements across global authorities such as the FDA and EMA within a single system. Today, the Company serves approximately 650 customers and over 500,000 users across 30 countries.

“We were looking for partners who understand the complexity of our customers’ environments and the opportunity ahead for integrated and AI-enabled software in life sciences. Sagemount and Ardian bring that perspective, and we look forward to continuing to build innovative solutions that support our customers’ most critical processes.” Olivier Pâris, Founder and CEO of Ennov

“Regulatory and quality workflows in life sciences are becoming increasingly complex, while the cost of managing them across disconnected systems continues to rise. Olivier and his team have spent more than two decades building a mission-critical solution that enables customers to not only manage but optimize their processes to achieve better business outcomes. We believe this opportunity is only accelerating with Ennov’s new AI products and we’re excited to support the Company in its next phase of growth.” Gene Yoon, Managing Partners at Sagemount

“Ennov represents exactly the kind of technology company we seek to support at Ardian Growth. We are excited to join forces with Bregal Sagemount, bringing together two leading US and European investment firms behind an exceptional management team. With its strong international footprint and rapidly expanding AI capabilities, Ennov is uniquely positioned to shape the future of regulatory, quality, and clinical software in life sciences worldwide.” Alexis Saada, Head of Growth at Ardian

With this growth investment, Gene Yoon, Curt Witte, and Harrison Brunelli from Sagemount and Alexis Saada from Ardian will be joining Ennov’s board of directors.

Ennov was advised by Veil Jourde. Sagemount was advised by Goodwin Procter LLP. Ardian was advised by Proskauer Rose LLP.

The transaction is expected to close in late Q2 2026, subject to regulatory approvals and customary closing conditions.

Ardian investment team: Alexis Saada, Olivier Roy, Alexandra Da Silva, Michelle Stitz

 

ABOUT ENNOV

Ennov provides a comprehensive software platform to manage the most demanding processes of life sciences organizations in a compliant and efficient way. With over 25 years of experience, Ennov’s cloud-based solutions cover Regulatory Affairs, Pharmacovigilance, Quality, Clinical, and Commercial. Dedicated to innovation and excellence, Ennov’s solutions are used by more than 650 companies and 500,000 users worldwide, helping them to bring their products to market faster while maintaining compliance with regulatory requirements. For more information, visit en.ennov.com or follow us on LinkedIn.

ennov.com

ABOUT BREGAL SAGEMOUNT

Bregal Sagemount is a leading growth-focused private capital firm with $11 billion of cumulative capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 90 companies in a variety of sectors, including software, data & information services, financial technology & services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York and Palo Alto. For more information, visit www.sagemount.com or follow us on LinkedIn.

sagemount.com

ABOUT ARDIAN

In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world.
We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy.
Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry.
Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across Private Equity, Real Assets, and Credit.
Ardian. Mastering change for lasting value.

ardian.com

Media contacts

Chief Sales and Marketing Officer at Ennov

Laure Bros

lbros@ennov.com 

Marketing & Communications Manager at Bregal Sagemount

Siqi Wu

siqi.wu@bregal.com 

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

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La Caisse partners with Novisto to help organizations prepare for their sustainability transition

LaCaisse

Novisto, a leading corporate sustainability management platform, and La Caisse, a global investment group, announce the conclusion of an agreement and an investment by La Caisse in Novisto. This transaction aims to accelerate the company’s growth and strengthen organizations’ access to technological solutions that facilitate the management of sustainability-related information within the context of the transition to a low-carbon economy.

Over the past few years, Novisto has established itself as a key player in its sector by helping companies better manage the quality, traceability, and comparability of sustainability data amid rapidly evolving global disclosure requirements.

La Caisse’s entry into Novisto’s capital occurs during a phase of strong international growth and is based on a shared vision: data technologies are essential for integrating climate and extra-financial issues into business and investment practices. This collaboration will support the continued evolution of Novisto’s platform and its offerings.

The transaction aligns with La Caisse’s 2025‑2030 climate strategy, which focuses on supporting companies through the energy transition. Several of La Caisse’s portfolio companies—including CAE, Boralex et Couche‑Tard—already utilize the Novisto platform.

“Our commitment to Novisto, a Québec-based company with a strong presence both locally and abroad, reflects our desire to support companies offering concrete solutions to the major challenges of our time and to turn them into champions of their sector. By helping organizations better structure their sustainability data, Novisto contributes to accelerating the transition to a greener economy. This investment also enhances our portfolio while fostering greater synergies and the sharing of expertise,” said Kim Thomassin, Executive Vice-President and Head of Québec, La Caisse.

This partnership comes at a time when companies face increasing pressure from regulations, such as the European CSRD and climate disclosure laws in California. Novisto has become a benchmark solution for organizations that view sustainability not merely as a compliance exercise, but as a central element of corporate governance.

“The management and reporting of sustainability data have become a pillar of corporate resilience,” said Charles Assaf, CEO and co-founder of Novisto. “La Caisse is a global leader in sustainable investment, and this partnership confirms Novisto’s role in the transition. Together, we provide the world’s largest organizations with the auditable data necessary to move from climate commitments to verifiable climate action.”

ABOUT LA CAISSE

For more than 60 years, La Caisse has invested with a dual mandate: generate optimal long-term returns for its 48 depositors, who represent over six million Quebecers, while contributing to Québec’s economic development.

As a global investment group, La Caisse is active in major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, its net assets totalled CAD 517 billion. Learn more at lacaisse.com, LinkedIn and Instagram.

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

ABOUT NOVISTO

Novisto is the enterprise system of intelligence for sustainability management. By integrating ESG, carbon, and risk data into a single, audit-ready architecture, Novisto provides global organizations with the transparency required for modern regulatory environments. The platform serves a premier list of Global 2000 companies including Sanofi, Alimentation Couche‑Tard (Circle K), and Synopsys. Across 12+ critical industry segments—from Finance and Energy to Mining and Deep Tech—Novisto powers the ESG excellence of the world’s most complex enterprises. To learn more visit www.novisto.com, LinkedIn.

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