Tag Archives: Software

SDB Groep partners with buchner, entering the DACH-region with its comprehensive suite of innovative healthcare and childcare software solutions

Main Capital Partners

SDB Groep (“SDB”) today announces its strategic combination with buchner to further expand its presence across European healthcare and childcare software markets.

Supported by Main Capital Partners, the partnership marks SDB’s entry into the German market and represents the company’s second step in its international expansion strategy following last year’s acquisition of Nordics-based Alfa eCare.

By bringing together complementary solutions within an integrated best-of-suite platform, SDB and buchner aim to deliver enhanced value to healthcare providers in the DACH region and further increase satisfaction across its customer bases.

SDB is a Dutch provider of software for healthcare and childcare organizations, serving segments including elderly care, disability care, mental health, rehabilitation, youth care, childcare, and independent treatment centers across the Netherlands and the Nordics. SDB’s offering combines core electronic medical and health record solutions (EMR/EHR) with a wide suite of secondary (AI-enabled) applications such as workforce planning, HR, payroll, learning, digital health, and analytics. Main has been a strategic partner to SDB since 2018.

buchner is a German provider of software solutions for healthcare professionals, with a strong footprint in therapeutic and ambulatory care, serving a customer base of over 8,000 healthcare institutions. buchner helps therapists in digitizing key processes in their practice management. buchner’s software solutions thereby help improve efficiency and decrease the complexity of managing therapists’ day-to-day operations. Key functionalities include patient and prescription management, invoicing, BI, calendar and workforce management.

The combination of SDB and buchner brings together two highly complementary platforms, creating a prominent player in the Dutch, Nordic and German healthcare and childcare markets. By combining their product portfolios, both companies will unlock significant cross-sell opportunities and further enhance their integrated offering. For SDB, the transaction represents a key milestone in its international growth strategy. Following the acquisition of Alfa eCare in the Nordics, buchner marks SDB’s second international acquisition and its entry into the German healthcare software market.

With the acquisition of buchner, we achieve a new milestone in SDB’s pan-European growth ambitions: entering the German healthcare market.”

– Sjoerd Aarts, Managing Partner at Main and Supervisory Board member at SDB

Sjoerd Aarts, Managing Partner at Main and Supervisory Board member at SDB: ”With the acquisition of buchner, we achieve a new milestone in SDB’s pan-European growth ambitions: entering the German healthcare market. We see strong opportunities for SDB to further expand its presence across German healthcare and childcare software segments with its differentiated suite of best-of-breed solutions. We look forward to supporting the combined group to further build its position as an innovative healthcare solutions provider across Western-European care and cure markets.”

Vincent van Staalduinen, COO of SDB Groep: ”This partnership with buchner marks another major milestone in our strategy towards establishing the most innovative software supplier to healthcare and childcare institutions across Western-Europe. This acquisition will allow us to accelerate our strategic roadmap to expand into the German healthcare market.”

Ralf Buchner, CEO of buchner: “We are excited to be joining SDB as we continue our already 35-year journey as an innovative software provider to therapists across Germany. By joining SDB, we will establish additional size and scale, enabling further growth of our business in Germany and expanding further into the DACH-region.”

About SDB Groep

SDB Groep is a SaaS Software and Services company that develops innovative, user-friendly and fully integrated (AI-enabled) software solutions for healthcare and childcare. This is achieved by putting the customer and the employee at the center of the development of software designed to optimize work processes and minimize administrative burdens. Thanks to this approach, SDB Groep brings joy and effectiveness back to the professionals, giving them more time to do what they love: providing the best care. SDB is headquartered in the Netherlands with a dedicated team of c. 400 healthcare software professionals across the Netherlands, Sweden, Denmark, and Finland.

About buchner

buchner & Partner GmbH was founded in 1991 as a pure form mailing service for therapeutic practices by Ralf buchner in Kiel, Germany. buchner serves over 45,000 customers, which are comprised of healthcare therapists, physiotherapy-, ergotherapy-, logopedic practices and other cure providers. buchner’s software includes practice management functionalities like invoicing, patient documentation, calendars, and workforce management.

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Main Capital Partners expands into the US insurance software market with a majority investment in Agenium

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Main Capital Partners

Main Capital Partners announces a majority investment in Agenium, an insurance technology platform focused on digitizing and optimizing the end-to-end application, underwriting, and new business journey.

hrough configurable automation and embedded decision support, Agenium helps insurers speed up processing, strengthen risk evaluation, and lower operating complexity.

Headquartered in Milwaukee, Wisconsin, Agenium provides a cloud-based, no-code platform used by life, supplemental health, and annuity carriers, among others. The solution enables insurers to design and manage underwriting workflows in a flexible, scalable environment, supporting more consistent execution across the policy lifecycle.

The Company serves over 20 leading insurance carriers globally, representing over 50,000 active platform users. Agenium’s offering spans key underwriting functions, including digital application handling, case management tooling, and a reflexive decision engine. Designed to easily integrate with existing and legacy systems, the platform reduces manual touch points and creates compliant, maintainable processes.

In partnership with Main Capital Partners, Agenium will focus on scaling its commercial organization, accelerating customer acquisition, and further developing its platform through additional modules and integrations. In addition, Agenium will pursue a targeted buy-and-build strategy to broaden its product suite and further support insurance carriers across the insurance policy lifecycle. Supported by Main’s experience in international expansion, this partnership will help Agenium strengthen its position in North America and selectively expand into new geographies.

Agenium represents a compelling opportunity to invest in a high-growth, mission-critical software platform within the attractive insurance ecosystem.”

– Daan Visscher, Partner & Co-Head North America at Main

Daan Visscher, Partner & Co-Head North America at Main, said: “Agenium represents a compelling opportunity to invest in a high-growth, mission-critical software platform within the attractive insurance ecosystem. The company combines strong recurring revenues with deep customer relationships and clear expansion potential. We see significant opportunities to support growth by further professionalizing the go-to-market strategy and complementing the platform with targeted add-on acquisitions.”

Mike Risley, CEO of Agenium, added: “Main Capital Partners brings valuable experience in scaling software businesses like ours, and we’re excited to benefit from their strategic and operational support. This partnership enables us to further invest in our platform, enhance our product capabilities, and better serve both existing and new customers. We see strong demand for modern new business and underwriting solutions, and together we are well positioned to capitalize on that momentum.”

About Agenium

Agenium is an insurance technology platform focused on modernizing the insurance application and underwriting process. Its cloud-based, no-code solution enables insurers to streamline workflows, integrate data sources, and support more efficient and consistent underwriting decisions. Built on a scalable and flexible architecture, the platform integrates with carriers’ existing systems and supports the full new business and underwriting lifecycle across life, health, and annuity products. By automating key processes and reducing manual intervention, Agenium helps insurers improve processing speed, enhance operational efficiency, and bring new products to market more effectively.

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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Partnering with Blitzy to Scale Autonomous Software Development for the Enterprise

Northzone

Engineering teams at the world’s largest companies are under mounting pressure to ship faster, modernise aging systems, and deliver more than their headcount allows. Development backlogs accumulate faster than teams can clear them. And the gap between what enterprises need to build and what their teams can realistically deliver keeps widening.

AI coding copilots and single-agent tools were meant to close that gap. But they help individual developers move faster at the margin — they can’t operate at the scale enterprise codebases demand. They lack the contextual understanding needed to reason across millions of lines of code, and they require constant human guidance. For enterprises, the bottleneck hasn’t moved.

Blitzy was built on the conviction that frontier models alone would never solve this problem. What’s required is something fundamentally different: a platform that builds a deep, persistent understanding of an enterprise codebase and orchestrates thousands of agents in parallel to execute development work autonomously — not just suggesting the next line, but completing months of development work end to end.

Blitzy’s platform autonomously builds a dynamic knowledge graph of the enterprise codebase and maintains a persistent understanding of the environment. Grounded in that knowledge graph, its orchestration layer coordinates thousands of agents in parallel across days to weeks of uninterrupted inference. The result is autonomous development of entire software projects, not just individual tasks.

Blitzy was founded by serial entrepreneur and former Army Ranger Brian Elliott and NVIDIA Master Inventor Sid Pardeshi, who holds 27+ patents related to neural networks, image generation, and AI-driven interface translation. Brian and Sid met while building and scaling advanced software systems at Harvard. Having more than doubled headcount in the past six months, they’ve assembled a world-class team and become the platform of choice for dozens of Global 2000 enterprises tackling their most demanding software development challenges.

As our Partner Sanjot Malhi puts it:

“Blitzy has created a truly paradigm-shifting product in one of the largest markets in the world: Autonomous AI Coding. They have meaningfully shifted outcomes for several Fortune 500 enterprises, and are well on their way to creating a category-defining platform. We are excited and privileged to partner with Brian and Sid in this journey.”

The next wave of enterprise software won’t be built by developers with better copilots. It will be built by platforms that can understand, reason across, and autonomously execute development work at the scale the world’s largest companies require. Blitzy is that platform — and we’re proud to lead their $200M growth round alongside new investors PSG, Battery Ventures, Jump Capital, Defiant, continued participation from existing investors including  Flybridge, Link Ventures, NFX, Picus Capital, and Venture Guides, and strategic investments from Liberty Mutual Strategic Ventures and BAL Ventures.

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Axcel agrees to acquire Geomatikk from Hg with plans to accelerate European expansion

HG Capital

Geomatikk, a leading provider of tech-enabled services and software that help safeguard and manage critical underground infrastructure, today announced it has entered into an agreement to be acquired by Axcel, a leading private equity firm investing across Northern Europe.

Hg, a leading investor in European and transatlantic technology and services businesses, is the current majority owner and will fully exit its investment in Geomatikk upon completion of the transaction. Management as well as the Norwegian investment company KKA Invest will reinvest and remain shareholders alongside Axcel.

Founded in 2005 and headquartered in Norway, Geomatikk combines tech-enabled detection services and proprietary software to help prevent damage to underground infrastructure, including power cables, fibre networks and water pipes, during excavation and construction work. The company employs approximately 630 people and serves 13,000 asset owners, municipalities, and contractors each year across Norway, Sweden, Finland, Denmark and Spain.

Over the five years of ownership, Hg supported Geomatikk’s transformation from a regionally focused infrastructure protection services business into a pan-European critical infrastructure management platform. This was driven by Hg’s significant investment in the management team, nine strategic acquisitions to build out the company’s software offering, and continued improvements to operational efficiencies including increased AI automation.

Geir Hansen, CEO of Geomatikk, said: “Our partnership with Axcel marks an exciting new chapter for Geomatikk. We have built a strong technology platform for infrastructure protection across Europe, and Axcel’s deep regional expertise and track record of scaling businesses will be invaluable as we pursue further European expansion. I want to thank Hg for their partnership over the past five years. Their expertise has been instrumental in helping us reach this next phase of growth, particularly in building out our software offering and expanding across new geographies.”

Christoffer Müller, Partner at Axcel, said: “Geomatikk is a true Nordic pioneer in its industry, having built a strong and unique position within both infrastructure protection services and network information systems over the past two decades. We’re excited to partner with the management team and founders to continue developing a world-class services and software business, building on the strong progress under Hg’s ownership.”

David Issott and Rob Hallot at Hg, said: “It has been a privilege to partner with Geir and the Geomatikk team. Together, we have transformed the business from a regional services provider into a leading Pan-European platform tackling some of the most pressing infrastructure challenges. This was supported by some excellent hires into the management team, nine strategic acquisitions to build out the software offering, alongside significant operational improvements. The company is exceptionally well positioned for continued growth under Axcel’s ownership, and we wish the team every success.”

Terms of the transaction are not disclosed.

For further information, please contact:

Geomatikk

Geir Hansen, Group CEO geir.hansen@geomatikk.com
Siri Schmidt-Horix, CHRO, Siri.Schmidt-Horix@geomatikk.no
Geir Hansen, Group CEO

Axcel

Christoffer Müller, Partner, cm@axcel.com
Maria Fiorini Lorenzen, Head of Communications, mfl@axcel.com

Hg

Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com

About Geomatikk

Geomatikk Group is a leading Nordic technology and services company dedicated to protecting and managing critical underground infrastructure, ensuring undisrupted access to the critical infrastructure society depends on.

Operating across Norway, Sweden, Finland, Denmark, and Spain, with approximately 630 employees, Geomatikk connects infrastructure owners, contractors, and public authorities through advanced digital platforms and specialised field services.

Every day, essential networks for electricity, fibre, water, and gas are at risk of accidental damage during excavation. Geomatikk ensures these networks are accurately identified, mapped, and protected before digging begins, safeguarding critical societal functions and enabling safer, more efficient construction, maintenance, and development activities.

Geomatikk holds ISO certifications across quality, environment, health & safety, and information security, and is committed to science-based climate targets validated by the SBTi.For more information, visit geomatikk.com

About Hg

Hg is an investor in European and transatlantic technology and services businesses. We are an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers.

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Fluent Commerce receives A$46M from Bain Capital to Accelerate Next Phase of Growth

BainCapital

SYDNEY, February 20, 2026 — Fluent Commerce, a global provider of Order Management Systems (OMS), announces today that it has secured A$46m in new funding from Bain Capital. The investment will support continued, profitable global growth – enabling customers to scale faster with new AI-powered capabilities. The capital will:

●    Fund further “AI with ROI” investments
●    Accelerate customer acquisition
●    Support the roll-out of Fluent Connect (new AI integration platform)
●    Continue expansion into key international markets

Fluent Commerce CEO, Graham Jackson, said: “At Fluent Commerce, our goal is to serve our customers with real-time data to enable them to remove profit leaks and to grow. Whether it’s into a new market or launching a new brand or experience, we provide that decision-making engine for AI-ready commerce operations. This investment from Bain Capital enables us to supercharge our international growth and become the AI powerhouse for global brands.”

Fluent Commerce is dedicated to helping companies optimise inventory, move faster and deliver better customer experiences through its scalable, distributed platform. Customers include global brands such as Prada Group, L’Oreal, Kingfisher, LVMH and JD Sports.

In January, Fluent Commerce launched its new AI-powered integration platform, ‘Fluent Connect’, which enables retailers and brands to connect Fluent Order Management with critical third-party systems, such as payment gateways, carriers and POS systems, in a matter of hours rather than weeks. By dramatically reducing integration complexity and time-to-value, Fluent Connect allows customers to go live faster, scale more easily, and keep pace with ongoing innovation and growth.

This latest funding highlights investor confidence in Fluent’s long-term vision and continued global expansion. Bain Capital, a global private capital investment firm with over $215 billion (USD) in assets under management, continues to demonstrate its commitment to supporting high-growth companies through its latest transaction with Fluent Commerce.

Paul Kennedy, a Partner at Bain Capital said: “We are excited to partner with Fluent Commerce as it accelerates its global expansion. Fluent has built a best-in-class commerce platform guided by a proven management team, a focused customer-first strategy, and technology leadership that has earned the trust of leading global brands. Bain Capital’s conviction in Fluent is grounded in our global technology investing experience which we will continue to apply as we support the company’s ongoing growth.”

This transaction was advised by Neu Capital.

Managing Director from Neu Capital, Cyrus Church said: “Fluent Commerce is a fantastic Australian success story.  It’s been a pleasure arranging this capital as they continue to expand worldwide.”

END

About Fluent Commerce
Fluent Commerce is a global software company focused on inventory availability data management at scale and distributed order management (DOM) for commerce. Fluent Order Management provides accurate, real-time inventory availability across all locations, order orchestration, fulfillment optimization, fulfillment location management, in-store pick-and-pack, customer service, and reporting.
Fluent Commerce works with organizations such as JD Sports, L’Oréal, Prada Group, ALDO Group, LVMH, Dulux and Kingfisher. For more information, visit fluentcommerce.com

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $215 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Neu Capital

Neu Capital is a full-service independent debt advisory firm delivering tailored capital solutions to public and private mid-market companies. Neu Capital arranges billions of dollars of transactions across asset-backed securities, corporate finance and special situation structures.

 

Media Contacts

 Australia

 Stuart Carson

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Accent Equity-owned Lyngsoe Systems acquires mk Solutions’ business in North America

Accent Equity
  • Lyngsoe Systems has acquired mk Solutions’ (“mkS”) business in North America, comprising high-end automated handling systems and self-check solutions for libraries
  • Following the acquisition, Lyngsoe Systems gains the right to sell mkS’s products in the US and Canada and becomes the sole supplier of support and service for existing customers in North America
  • The acquisition strengthens Lyngsoe Systems’ position and service capacity in the North American library market

Effective 1 January 2026, Lyngsoe Systems has acquired mk Solutions’ (“mkS”) business in North America, which comprises high-end automated handling systems and self-check solutions for libraries. The acquisition is carried out through Lyngsoe Systems Inc., the North American entity within Lyngsoe Systems Library Solutions.

As a result of the acquisition, Lyngsoe Systems obtains the right to sell mkS’s products in the US and Canada. It will also be the sole supplier of support and service for existing customers in North America. Ongoing project deliveries will continue to be completed by mkS in cooperation with Lyngsoe Systems. mkS’s European and further international operations remain unchanged.

“The acquisition of mk Solutions is a natural step for us, as it aligns with our strategy and our product portfolios targeted at these markets complement each other. Equally important for both companies is our commitment to delivering exceptional service and creating meaningful value for our customers,” says Henrik Kjeldgaard, CEO of Lyngsoe Systems Library Solutions.

 

“This acquisition is fully aligned with Lyngsoe Systems Library Solutions’ strategy and strengthens its platform in North America. We are pleased to support the team as they broaden their offering and continue to build long-term value through reliability and close customer partnership,” says Carl Fürstenbach, Chairman of Lyngsoe Systems and Partner at Accent Equity.

For additional information, please contact:

Carl Fürstenbach, Partner at Accent Equity, carl.furstenbach@accentequity.se, +46 70 322 98 99
Henrik Kjeldgaard, CEO of Lyngsoe Systems Library Solutions, hkj@lyngsoesystems.com, +45 96 98 09 80

About Lyngsoe Systems:
Lyngsoe Systems, founded in 1952, is one of the world’s leading software developers and system integrators of logistical solutions. The company’s advanced solutions include asset-tracking and automation for a wide range of complex logistical environments. Lyngsoe Systems Library Solutions develops, manufactures, delivers, and services innovative and reliable library solutions, including automated material handling and self-service equipment.
lyngsoesystems.com

About mk Solutions:
mk Solutions GmbH is a leading provider of high-end automated handling systems and self-check solutions, including innovative 24/7 library systems. The company develops and manufactures hardware, with proprietary software that powers these systems and supports library workflows.
mksolutions.com

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se

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Lovell Minnick Announces Successful Close of Single Asset Continuation Vehicle for SRS Acquiom

Carlyle

The transaction, led by Carlyle AlpInvest, will enable SRS to accelerate growth and capitalize on new opportunities

PHILADELPHIA & LOS ANGELES & NEW YORK–(BUSINESS WIRE)–Lovell Minnick Partners (“Lovell Minnick”), a private equity firm focused on investments in financial services, business services, and financial technology companies, today announced the successful close of a single asset continuation vehicle for SRS Acquiom (the “Company”), a company that provides a comprehensive platform to help manage merger and acquisition transactions as well as bilateral and syndicated loan facilities.

This transaction, led by Carlyle AlpInvest, further extends Lovell Minnick’s longstanding partnership with SRS Acquiom, which began in 2018 when Lovell Minnick completed a majority investment in the Company. In the seven years since Lovell Minnick invested in the Company, SRS Acquiom has grown its breadth and depth of service offerings and expanded internationally. This partnership has resulted in substantial growth in revenue, profitability, and new jobs created throughout the organization, while also generating strong returns for Lovell Minnick’s investors.

Extending this partnership allows current and new investors, co-investors, and members of SRS Acquiom’s management team to continue their active involvement as shareholders alongside Lovell Minnick and Carlyle AlpInvest. It also underscores SRS Acquiom’s broader strategic priorities, including its ongoing international expansion across the UK and Europe, a continued focus on strategic acquisitions, and the Company’s commitment to further growing its presence and suite of tech-enabled solutions in core markets.

“This continuation fund underscores our strong conviction in SRS Acquiom as they further their position as a leader in the transaction services market,” said Steven Pierson, Managing Partner at Lovell Minnick. “As we deepen our partnership with the SRS team, we look forward to providing additional resources to support the Company’s next phase of growth.”

“SRS prioritizes bringing advanced technology and high-quality services to its clients, helping transform the future of how M&A transactions and private credit deals are managed,” said Tom Hutchins, Principal at Lovell Minnick. “We look forward to continuing our work with the Company’s management team to accelerate growth and launch several new solutions for clients.”

“SRS Acquiom has consistently demonstrated strong growth while establishing a differentiated market position,” said Michael Hacker, Partner, Carlyle AlpInvest. “Lovell Minnick has built impressive scale with the business over the past decade, and we’re excited to invest alongside them to support SRS Acquiom’s continued momentum.”

“Lovell Minnick shares our vision to streamline the M&A and loan agency processes,” said Paul Koenig, CEO of SRS Acquiom. “This transaction provides additional capital to support strategic acquisitions across our business, complementing our organic growth strategies. In terms of organic growth, the transaction enables us to further invest in our people, technology, and services to continue to deliver a best-in-class experience for our clients, while also supporting our expansion into international markets.”

Evercore served as the primary financial advisor to Lovell Minnick, and Kirkland & Ellis served as the primary legal counsel on the transaction.

About Lovell Minnick

Lovell Minnick Partners is a private equity firm with over 25 years of experience partnering with growth-oriented companies. Lovell Minnick leverages deep sector experience and a broad network of strategic advisors to help management teams scale their companies at an accelerated pace. The firm collaborates with executive teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since inception in 1999, Lovell Minnick has raised over $5.8 billion of committed capital, invested in more than 55 unique platform companies and completed over 230 add-on acquisitions. Lovell Minnick targets growth-oriented, middle-market companies with a particular focus on companies in the financial services, business services, and financial technology sectors.

About Carlyle AlpInvest

Carlyle AlpInvest is a leading global private equity investor with $102 billion of assets under management and more than 700 investors as of September 30, 2025. It has invested with over 370 private equity managers and committed over $111 billion across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. Carlyle AlpInvest employs more than 290 people in New York, Amsterdam, Hong Kong, London, and Singapore. For more information, please visit www.carlylealpinvest.com.

About SRS Acquiom

SRS Acquiom delivers the smartest way to run a dealTM with solutions that reduce the administrative burden throughout the entire deal lifecycle. Our services include payments administration and escrow agent services, online document solicitation and reporting, professional shareholder representation, and virtual data rooms. For loan and credit transactions, we provide independent administrative, collateral, and sub-agent services. Since 2007, we have helped sophisticated deal parties reduce administrative drag, so they can focus on what they do best.

Contacts

Prosek Partners
pro-LM@prosek.com

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StarLIMS Announces Strategic Investment By Turn/River Capital

Franciso Partners

HOLLYWOOD, Fla., [January 13, 2026] — StarLIMS, a global enterprise informatics platform for laboratories, today announced a strategic investment by Turn/River Capital, a leading software private equity firm. Existing investor Francisco Partners will exit its investment as a result of this transaction.

StarLIMS powers manufacturing and research lab operations worldwide. The company enables greater data automation and visibility, regulatory control, and workflow management, with a product suite that includes: Laboratory Information Management Systems (LIMS), Electronic Laboratory Notebooks (ELN), Laboratory Execution Systems (LES), and Scientific Data Management Systems (SDMS). Looking ahead, StarLIMS sees a significant opportunity to responsibly embed AI across its platform and operating model to accelerate insight generation, extend automation at scale, and drive durable value for customers.

Turn/River’s investment marks an important milestone in StarLIMS’ evolution, positioning it to accelerate its product innovation, deepen customer engagement, and expand into new markets. “Our mission has always been to empower laboratories with data-driven insights and robust informatics solutions that make scientific work more efficient, compliant, and connected. Turn/River’s deep experience scaling global software companies will help us accelerate our mission and impact,” said Trey Cook, Chief Executive Officer of StarLIMS.

Turn/River’s investment underscores its commitment to advancing software companies that are critical to modern industries. “StarLIMS represents the type of software leader we seek: innovative, mission-driven and essential to its customers’ success,” said Matthew Amico, Partner at Turn/River Capital. “We’re excited to partner closely with the StarLIMS team to build on this strong foundation and accelerate product innovation and customer value,” added Priya Diwakar, Senior Vice President at Turn/River Capital.

“It has been rewarding to partner with Trey and the leadership team at StarLIMS to strengthen its position as a leading provider of laboratory informatics software,” said Ezra Perlman, Co-President at Francisco Partners. “We look forward to StarLIMS’ continued success in this next chapter,” added Nick Nelson, Vice President at Francisco Partners.

Simpson Thacher & Bartlett LLP served as legal advisor to Turn/River. Harris Williams served as the exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to Francisco Partners and StarLIMS.

About StarLIMS
As a recognized leader in LIMS and informatics solutions, StarLIMS is committed to providing quality products and services to over 1,100 customers across the globe. Found in more than 2,000 laboratories, StarLIMS serves life sciences, CDMOs, food & beverage, chemical, agrochemical, oil & gas, consumer goods, contract testing, R&D, public health, and clinical diagnostics organizations. With a modern R&D ELN incorporated into its portfolio, StarLIMS addresses the critical challenges customers face in finding an advanced platform that supports them from R&D through commercialization.

About Turn/River Capital Turn/River Capital is a private equity firm that applies a proprietary growth engineering strategy to investing, partnering with software businesses to accelerate growth and build enduring value. The firm’s team of equal parts investors and operators provides hands-on operational support and the flexible capital to systematically scale marketing, sales, and customer success at its portfolio companies. Founded in 2012 and based in San Francisco, Turn/River invests globally with a focus on North America and Europe. Learn more at www.turnriver.com

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in over 500 technology companies, making it one of the most active and longstanding investors in the technology industry. With over $50 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

Media Contacts
Carlos Roig
Clear Hill Strategies for Turn/River Capital
T: +1 415.305.6590
media@turnriver.com

Francisco Partners
Prosek Partners
Pro-FP@Prosek.com

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Defense Unicorns Raises $136 Million Series B to Build the Software Backbone of the Department of War

BainCapital

Reaching a $1B valuation underscores Defense Unicorns’ role as modern foundational infrastructure for secure software delivery across critical military platforms.

SAN ANTONIO – Jan. 13, 2026 – Today, Defense Unicorns, the leader in airgap software delivery for national security mission systems, announced the completion of a $136 million Series B financing round led by Bain Capital. The investment brings the company to unicorn status with a valuation exceeding $1 billion, driven by the company’s rapid and profitable growth. The company has seen a 300% increase in adoption year-over-year in military systems.

The Department of War is prioritizing modernization and speed, and Defense Unicorns’ platform addresses a critical infrastructure challenge by enabling secure, rapid software updates across disconnected environments from submarines, ships, and aircraft to forward operating bases. Warfighters often operate in conditions where connectivity is limited or nonexistent, and the ability to deploy software updates securely and instantly is now essential to mission success. Unicorn Delivery Service (UDS) bridges high security requirements while supporting partners and allies with modern software solutions essential for next-generation national security capabilities.

“Defense Unicorns gives our nation a wartime software advantage,” said Dr. Rob Slaughter, CEO of Defense Unicorns. “The U.S. has significant commercial software advantages, but the systems we go to war with are typically outdated. At Defense Unicorns, we make software a strategic deterrent by making it easy to deploy and operate software in any mission environment,” continued Dr. Slaughter.

The funding round was led by Bain Capital’s Tech Opportunities fund, the growth technology platform of Bain Capital. With participation from Ansa Capital, Sapphire Ventures, Valor Equity Partners, AVP, Uncorrelated Ventures, and the former Director of the Central Intelligence Agency, David H. Petraeus.

“We are thrilled to support Defense Unicorns as it works to ensure that U.S. service members have access to the most advanced, secure, and rapidly deployable software possible. Defense Unicorns plays a vital role in helping the military modernize mission systems, enabling capabilities that directly improve readiness, resilience, and operational advantage in the field,” said Dewey Awad, a Partner at Bain Capital Tech Opportunities. “We believe Defense Unicorns is building foundational infrastructure for modern defense,” added Zach Berger, a Managing Director at Bain Capital Tech Opportunities. “The company combines unmatched technical expertise with a deep understanding of how the military operates, and that combination is critical to delivering real, measurable impact for service members who rely on software in high-stakes environments.”

Demand for secure software delivery continues to rise. Marco DeMeireles, Co-Founder and Managing Partner at Ansa Capital, stated, “We’ve been proud to partner with Defense Unicorns since the Series A, and our continued investment reflects the conviction we’ve built watching the team execute against an incredibly complex and mission-critical problem. What Rob and the team have built is foundational infrastructure for modern defense, and this next chapter only reinforces the scale of impact ahead.”

The new capital will enable Defense Unicorns to further scale and integrate open-source and commercial dual-use technology throughout the U.S. military and allied forces. To address the most critical modernization needs in defense, the company plans to advance product development across the following strategic products:

  • UDS: A secure, portable, airgap-native runtime platform, purpose-built to solve DOW-specific software delivery challenges. UDS makes deploying and updating software on military systems fast and easy, with essential tools for packaging, deploying, monitoring, and sustaining mission applications.
  • UDS Registry: The first software registry of its kind to offer the speed, reliability, and mission-critical performance required by military systems operating in the most extreme environments. UDS Registry gives the U.S. and our allies an American-maintained solution that secures our software supply chain and maintains trust and reliability across the software development lifecycle.
  • UDS Army: A new approach to accelerate the continuous delivery of secure, mission-ready software to soldiers. UDS Army gives commercial software vendors a faster, simpler path to bring their capabilities to Army missions by combining secure DevSecOps pipelines with pre-authorized cloud environments.

“Before UDS, there was no open, secure, and airgap-native modern software delivery capability for warfighters. More than just a piece of software, UDS is an entire open ecosystem of tools and technologies purpose-built to securely bring capabilities to the field faster. I’m grateful for the incredible teams at Defense Unicorns that continue to evolve UDS to bring even more technical advantage to our nation’s heroes,” concluded Co-Founder and CTO Jeff McCoy.

About Defense Unicorns
Defense Unicorns is a veteran-owned defense technology company founded in 2021 by Rob Slaughter, Jeff McCoy, and Andrew Greene to make software a strategic deterrent for the U.S. Department of War. The company builds open-source, airgap-native technologies that enable the secure development, delivery, and sustainment of mission software across cloud, on-premises, and tactical edge environments. Defense Unicorns’ technology is trusted by the operators of some of the most critical systems in the world, including the U.S. Navy, Army, Air Force, and Space Force.
Learn more at https://defenseunicorns.com.

About Bain Capital 
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit &Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850employees, and approximately $185 billion in assets under management. Bain Capital’s Tech Opportunities business (baincapitaltechopportunities.com) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Media Contacts

 

Eddie de Sciora

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OneStream Enters into Definitive Agreement to be Acquired by Hg for $6.4 Billion

KKR

BIRMINGHAM, Mich., Jan. 6, 2026 /PRNewswire/ — OneStream, Inc. (Nasdaq: OS) (“OneStream” or the “Company”), the leading enterprise Finance management platform that modernizes the Office of the CFO by unifying core Finance and operational functions – including financial close, consolidation, reporting, planning and forecasting – today announced that it has entered into a definitive agreement to be acquired by Hg, a leading investor in software, services and data businesses. The all-cash transaction values OneStream at approximately $6.4 billion in equity value. Hg will be OneStream’s majority voting shareholder. General Atlantic, a leading global investor, will also be a significant minority investor alongside Tidemark, a leading technology investment firm.

Under the terms of the agreement, OneStream shareholders will receive $24.00 per share in cash. The per-share purchase price represents a 31% premium to OneStream’s closing share price on January 5, 2026 and a 27% premium to its volume-weighted average share price over the 30-trading day period ending the same date. An entity controlled by Hg will acquire all outstanding shares, including those shares owned by investment funds managed by KKR, a leading global investment firm, which took OneStream public in 2024. The transaction is expected to close in the first half of 2026. Upon completion of the transaction, OneStream will become a privately held company. Hg will invest in OneStream from its Saturn Fund.

“Today marks a pivotal moment for OneStream and our vision to be the operating system for modern Finance,” said Tom Shea, CEO of OneStream. “The Office of the CFO is at a critical AI inflection point, and we believe OneStream is well positioned for this shift. As we build on our strong foundation of growth, we are thrilled to partner with the teams at Hg, General Atlantic and Tidemark. Through this partnership, we are able to significantly advance our AI-first go-to-market strategy and expand our Finance AI capabilities at a rapid pace. This transaction delivers immediate value to our shareholders and is a vote of confidence in our strategy, our talented employees and our partner ecosystem. We look forward to having the ability to move faster, think bigger and deliver more for our forward-thinking Finance customers.”

“With over $4.5 billion invested in providers that serve the Office of the CFO to date, we understand the tremendous opportunity for OneStream, as technology and industry trends continue to place increasing demands on Finance teams,” said Alan Cline, Partner and Head of North America at Hg. “To meet this need, OneStream’s powerful AI differentiation, strong global customer base and clear vision for the future of modern Finance make it a leading enterprise provider in this space and exceptionally well positioned for the future.”

“We’re excited to support Tom and the OneStream team,” added Joe Jefferies, Partner at Hg. “We will seek to preserve the strong customer focus and entrepreneurial culture that have been central to their success, while bringing Hg’s deep expertise in scaling software businesses. This includes support from our AI team of over 100 specialists and supporting partnerships, as well as Hg Catalyst, our dedicated AI incubator designed to accelerate AI product innovation across Hg’s portfolio.”

“OneStream is reimagining enterprise Finance with an AI-focused, multi-product platform that provides immense value to the Office of the CFO,” added Jimmy Miele, Managing Director at General Atlantic. “We look forward to accelerating OneStream’s growth and innovation alongside Hg and Tidemark.”

“We are incredibly proud of what the OneStream team has been able to achieve over the course of our strategic partnership and the role that it has been able to establish as a trusted partner to global enterprises,” said Dave Welsh, Partner at KKR and Head of TMT Growth Equity. “With a category-leading platform and clear vision for the future, we see strong momentum for its next chapter with Hg, Tidemark and General Atlantic.”

Transaction Details

The transaction, which has been unanimously approved by OneStream’s Board of Directors, is expected to close in the first half of 2026, subject to the receipt of required regulatory approvals and the satisfaction of other customary closing conditions. KKR, in its capacity as the holder of a majority of OneStream’s voting power, has approved the transaction. No further approval of OneStream’s stockholders is required or will be sought.

Upon completion of the transaction, OneStream’s Class A common stock will no longer be listed or traded on any public stock exchange.

Mr. Shea will continue to serve as CEO, and the current leadership team will remain in place. OneStream will maintain its headquarters in Birmingham, Michigan.

Fourth Quarter and Fiscal Year 2025 Earnings Results

The Company plans to release its fourth quarter and fiscal year 2025 results in February 2026. In light of the pending transaction announced today, the Company does not expect to hold a corresponding conference call.

Advisors

J.P. Morgan Securities LLC is acting as financial advisor and provided a fairness opinion to OneStream, and Centerview Partners LLC provided a fairness opinion. Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as legal advisor, and FGS Global is serving as strategic communications advisor to OneStream. Goldman Sachs & Co. LLC is serving as exclusive financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Hg. Jones Day is serving as legal advisor to KKR. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as financing counsel to Hg. Deloitte & Touche LLP is providing financial & tax diligence, Bain & Company is providing commercial & technological diligence and Cruxy & Company is providing product strategy diligence, to Hg.

About OneStream

OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise Finance platform that unifies financial and operational data, embeds AI for better decisions and productivity and empowers the CFO to become a critical driver of business strategy and execution.

We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve.

With over 1,700 customers, including 18% of the Fortune 500, a strong ecosystem of go-to-market, implementation, and development partners and 1,600 employees, our vision is to be the operating system for modern Finance. To learn more, visit onestream.com.

About Hg

Hg is the leading investor in European and transatlantic software and services businesses. Hg helps to build sector-leading enterprises that supply critical software applications or workflow services to deliver intelligent automation for their customers. Hg takes an active approach to value creation, combining deep end-market knowledge with world class operational resources to provide compelling support to entrepreneurial leaders looking to scale enduring businesses. With a vast European network and strong presence across North America, Hg has approximately $100 billion in assets under management and more than 400 employees. Hg’s portfolio spans more than 55 companies worth over $185 billion in aggregate enterprise value, employing more than 130,000 people and consistently growing revenues at more than 20% annually.

About General Atlantic

General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $118 billion in assets under management, inclusive of all strategies, as of September 30, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

About Tidemark

Tidemark is a growth equity firm purpose-built to help companies win and scale. Tidemark is powered by a community of investors, entrepreneurs, and operators who are energized by ideas, a love of competition, and the drive to give back. We give 10% of our profits to our foundation, Tidemark10, to support the communities we serve. For more information, visit www.tidemarkcap.com

Contacts

OneStream

Investor Contact
Anne Leschin
VP, Investor Relations and Strategic Finance
OneStream
investors@onestreamsoftware.com

Media Contact
Victoria Borges
VP, Corporate Communications
OneStream
media@onestreamsoftware.com

Hg

Media Contact
Tom Eckersley
tom.eckersley@hgcapital.com

General Atlantic

Media Contact
Emily Japlon & Sara Widmann
media@generalatlantic.com

Forward-Looking Statements

Certain statements contained in this communication may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially.

Statements in this communication regarding OneStream that are forward-looking may include statements regarding: (i) the transaction; (ii) the expected timing of the closing of the transaction; (iii) considerations taken into account in approving and entering into the transaction; (iv) the anticipated benefits to, or impact of, the transaction on OneStream’s business; and (v) expectations for OneStream following the closing of the transaction. There can be no assurance that the transaction will be consummated.

Risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, in addition to those identified above, include: (i) the possibility that the conditions to the closing of the transaction are not satisfied, including the risk that required regulatory approvals to consummate the transaction are not obtained, on a timely basis or at all; (ii) the occurrence of any event, change or other circumstance that could give rise to a right to terminate the transaction, including in circumstances requiring OneStream to pay a termination fee to Hg; (iii) possible disruption related to the transaction to OneStream’s current plans, operations and business relationships, including through the loss of customers and employees; (iv) the amount of the costs, fees, expenses and other charges incurred by OneStream related to the transaction; (v) the risk that OneStream’s stock price may fluctuate during the pendency of the transaction and may decline if the transaction is not completed; (vi) the diversion of OneStream management’s time and attention from ongoing business operations and opportunities; (vii) the response of competitors and other market participants to the transaction; (viii) potential litigation relating to the transaction; (ix) uncertainty as to timing of completion of the transaction and the ability of each party to consummate the transaction; and (x) other risks and uncertainties detailed in the periodic reports that OneStream filed with the Securities and Exchange Commission, including OneStream’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

All forward-looking statements in this communication are based on information available to OneStream as of the date of this communication, and, except as required by law, OneStream does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE OneStream, Inc.

 

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