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KKR To Invest $400 Million In Leading Neutral Subsea Telecommunications Cable Services Provider OMS Group

KKR

Transaction builds on KKR’s strong momentum in Southeast Asia digital infrastructure

SINGAPORE–(BUSINESS WIRE)– KKR, a leading global investment firm, and the parent company of OMS Group (or the “Company”), a leading telecom infrastructure company and provider of subsea cable services, today announced the signing of definitive agreements under which KKR will commit $400 million in a tailored solution for OMS Group. This marks KKR’s latest digital infrastructure investment in Southeast Asia, underlining its conviction in the role digitalization plays in the region’s burgeoning internet economy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231029552367/en/

Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services, including installation and maintenance projects. The Company maintains a more-than-three-decades track record of providing mission-critical services to clients including major subsea equipment providers, large-scale cloud service providers, and telecom companies, and is internationally accredited for its quality management system.1 Today, OMS Group is one of the largest independent operators in this sector, with a diverse fleet including cable ships and cable barges, as well as cable landing stations serving the global telecommunications market.

KKR’s investment positions OMS Group well to accelerate its growth, including through expanding its fleet size and capabilities and investing in cable landing stations and subsea cable routes to serve global fast-growing cross-border data transmission trends and the demand for comprehensive subsea cable services.

Mr Projesh Banerjea, Director, Infrastructure at KKR, said, “OMS Group has established itself as a market leader with a longstanding track record of success and growth in Southeast Asia. As demand for greater connectivity across the region continues to grow, we are delighted to work closely with Datuk Lim, Mr Ronnie Lim, and the highly rated OMS Group team to meet this critical need. Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalization by governments, and a booming digital economy. We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”

Datuk Soon Foo Lim, OMS Group’s Chairman, said, “OMS Group and KKR share the same vision and appreciation of the critical data infrastructure OMS Group builds and maintain for its clients. We look forward to working with Mr David Luboff, Mr Projesh Banerjea and the world-class KKR team in advancing OMS Group’s growth plans.”

Commenting on KKR’s investment, Mr Ronnie Lim, Group CEO, OMS Group, said, “KKR’s investment in OMS Group underscores the value of OMS Group’s capabilities, which provides immense economic value to communities, corporations, and countries around the world by constructing and maintaining critical subsea data infrastructure. Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity.”

KKR is making this investment primarily from its Asia infrastructure strategy. This transaction adds to KKR’s track record of investing in digital infrastructure regionally and globally. Past KKR investments in Southeast Asia digital infrastructure have included the regional data center platform of Singtel, a leading Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines. Globally, KKR’s investments in digital infrastructure have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data center solutions, and Global Technical Realty, a build-to-suit and roll-up acquisition data center platform in Europe.

The transaction is expected to be completed by Q1 of 2024, subject to customary closing conditions. Additional details of the transaction are not disclosed.

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 Optic Marine Group

OMS Group is a global, neutral and integrated telecommunications infrastructure company with a wide range of services covering subsea telecommunications installation and maintenance, digital infrastructure ownership and digital Infrastructure engineering, procurement, maintenance and construction (EPC) under our Interconnect Managed Services division. Our capabilities in submarine fiber-optic cable systems, include installation and repair of deep and shallow water subsea fiber-optic cable systems, permitting in principle acquisitions, project management, direct shore ends, engineering and subsea surveys. We have a strong track record in constructing and owning cable landing stations and terrestrial dark fiber in Southeast Asia.

1 ISO 9001:2015 as certified by the Joint Accreditation System of Australia and New Zealand (JAS-ANZ)

Wei Jun Ong
KKR Asia Pacific
+65 6922 5813
WeiJun.Ong@kkr.com

Derek Lim
OMS Group
+603 5569 3881 ext 137
dlim@opticmarine.com

Source: KKR

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Oakley Capital invests in domains & hosting provider Webcentral

Oakley

Oakley Capital (“Oakley”), a leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I (“Origin” or “the Fund”) has agreed to acquire a stake in Webcentral DEH (“Webcentral”), a leading Australian domains, hosting and e-mail provider, in a carve-out from its parent, Webcentral Limited, an Australia-based digital solutions company listed on the Australia Securities Exchange (ASX).

Webcentral

Founded in 1996 as one of Australia’s first domain and hosting providers, Webcentral offers an extensive portfolio of digital services to over 330,000 small and medium businesses and 2,500 enterprises across Australia and New Zealand. The company is growing profitably with high cash conversion rates as more SMEs seek to digitise their business models.

Case studies Technology

Contabo: transforming a small regional webhosting business into an SME leader16.02.23

Oakley is investing in Webcentral in partnership with veteran hosting entrepreneurs Jochen Berger and Tom Strohe, marking the latest in a series of successful collaborations in this space, including Intergenia, HEG, WebPros and Contabo.

The investment reflects Oakley’s ability to leverage its network of entrepreneurs, its sector focus and buy-and-build track record to unearth attractive investment opportunities.

Oakley and its partners will apply their extensive experience scaling SaaS and hosting companies across Europe to help Webcentral unlock opportunities in a fragmented, international hosting market that continues to grow, as global demand for cloud infrastructure solutions accelerates.

Quote Peter Dubens

We look forward to working alongside Joe and his management team to further develop Webcentral into a leading hosting business and accelerate its growth. We also welcome the opportunity to achieve this in partnership with our long-term partners Tom Strohe and Jochen Berger, proven leaders in the webhosting space who we have been fortunate enough to collaborate with over the last 10 years.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Quote Joe Demase

Oakley and their partners combine a deep understanding of the domains and hosting sector with a proven value creation playbook. In partnership with Tom and Jochen, the Oakley team is uniquely positioned to support the next stage of Webcentral’s growth, enabling us to expand our capabilities, further improve our services to clients, and pursue new growth opportunities.

Joe Demase

Managing Director — Webcentral

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Clinisupplies Acquires Aquaflush TAI Portfolio To Continue Building A Leading Chronic Care Organisation

KKR

LONDON–(BUSINESS WIRE)– Clinisupplies Limited (“Clinisupplies”), a leading manufacturer and supplier of continence care consumables, today announced the acquisition of the Aquaflush transanal irrigation (“TAI”) business from Renew Medical Inc. and Renew Medical UK Limited, a US and UK manufacturer of continence products (together “Renew”).

The acquisition of the Aquaflush TAI range will enable Clinisupplies to expand its offering to include bowel management products, while also supporting patients living with chronic bowel issues through its nursing services.

Clinisupplies continues to integrate fast growing businesses, strengthening its position as a leading UK based direct-to-consumer chronic care company, providing continence care products and nursing services that helps support the NHS. Earlier this year, following an investment by funds managed by KKR, Clinisupplies announced the acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of urinary continence care products for managing acute and chronic conditions in the community.

Paul Cook, CEO at Clinisupplies, commented: “The Aquaflush business is a perfect fit with Clinisupplies’ purpose of helping people with continence issues to live more freely through the products and services we provide. It is our ambition to continue broadening this range of products and services in order to reach more consumers and healthcare professionals and to better support their needs. We are excited to add the Aquaflush range to our portfolio and to continue building on our growing position in the UK and around the world.”

Jason Tate, CEO at Renew, commented: “We have been delighted with the success Renew has enjoyed in recent years, and for the growing number of people who rely on the innovative range of Aquaflush TAI products. We are excited to see the next phase of development for the range and the growing support for Aquaflush users under the team at Clinisupplies.”

KKR invested in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $19 billion in the sector since 2004.

About Clinisupplies

Clinisupplies is a manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. Employing over 500 people in the UK, China and India, Clinisupplies provides its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

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.

FGS Global
Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Source: KKR

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IK Partners to sell Aspia to Vitruvian Partners

IK Partners

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell Aspia AB (“Aspia” or “the Company”), a leading technology-enabled accounting, payroll, tax and advisory services company, to international investment firm Vitruvian Partners (“Vitruvian”). Financial terms of the transaction are not disclosed.

Aspia was formed in 2018 when IK’s flagship Mid Cap fund at the time, IK VIII, made a series of acquisitions starting with the Business Services division of PwC in Sweden and shortly followed by the Accounting and Payroll business of KPMG in Sweden and Independent Tax Advisor Skeppsbron Skatt. With the support of IK, Aspia has built a strong platform for future growth through: broadening its customer base across small, medium and large customers; expanding its service offering; enhancing its presence across the Nordics while also earning a reputation as one of the best places to work in the region. In addition, Aspia has become the most efficient technology-enabled advisory and outsourcing provider in Sweden, developing a set of industry-unique digital tools such as Aspia Go, MyBusiness, and Acture (ESG) that greatly enhance the quality of the services that Aspia is delivering to its customers.

Aspia’s management team, its partner group and employees are the foundation on which the Company’s success and positive culture is based. The cumulative efforts of each individual have enabled Aspia to become one of the most trusted service providers to the Swedish and Nordic business community.

Underpinned by the growing awareness of the mission critical nature of outsourcing services against the backdrop of an increasingly complex financial and regulatory environment, Aspia is benefiting from a rapid digitalisation trend. The Company is quickly becoming one of the most well-respected providers of technology-enabled outsourcing services delivered through a proprietary digital customer interface portal, with ample growth potential in both existing and new markets.

Together with Vitruvian, Aspia will continue its growth journey across multiple markets and service areas, in addition to further investing in the digital platforms available to its customers.

Ola Gunnarsson, CEO of Aspia, commented: “We would like to thank IK for their support, valuable insight and expertise over the past five years, which has allowed us to grow our customer base, service offering and reputation across the Nordic region. This successful partnership has given us an excellent foundation on which to further grow and develop. Our new owner, Vitruvian, has a strong track record of supporting growing companies in their service and product development as well as in their international expansion efforts. We are confident that Aspia, with the support of Vitruvian, will be able to continue accelerating its growth journey and benefit from their expertise in growth and technology-enablement.”

Alireza Etemad, Partner at IK and Advisor to the IK VIII Fund, added: “We are very proud of the role IK has played in creating one of the region’s leading technology-enabled advisory and outsourcing providers. In 2018, with the merger of three separate entities, we saw the potential for a new player in the market to cater to the specific needs of corporates across the Nordics through a combination of strong personal relationships, expertise and technology. Aspia’s growth over the past five years has been remarkable and we look forward to seeing their continued success. We wish Ola, his team and their new partners, all the very best for the future.”

Jussi Wuoristo, Partner at Vitruvian, commented: “As the financial and regulatory environment for businesses is becoming increasingly complex, Aspia has built an unrivalled combination of leading outsourcing services and digital tools to act as a trusted partner to companies in the Swedish and Nordic business community. We are excited to be partnering with the management team and partner group of Aspia to embark on the next exciting chapter of the Aspia journey.”

Completion of the transaction is subject to regulatory approvals.

For further questions, please contact:

Aspia
Pia Törnqvist
Phone: +46 (0) 706 897 659
pia.tornqvist@aspia.se

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

Vitruvian
Matthew Smallwood
Phone: +44 (0) 207 457 2020
matthew.smallwood@instinctif.com

Categories: News

Apax Funds invest in GAN Integrity

Apax

Funds advised by Apax Partners LLP (“Apax”) announced today that they have reached an agreement to make a significant growth investment in GAN Integrity (“GAN” or “the Company”), a leading provider of technology that enables proactive, integrated, real-time management and monitoring of third-party and employee risk, ethics and compliance programs. The investment will enable GAN to accelerate product development and to better serve the growing demands of global brands for risk, ethics, and compliance management software technology.

Founded in Denmark in 2004, GAN provides cloud-based software solutions covering internal and external risk areas including third-party due diligence, disclosures, incident, and risk management, as well as multiple risk domains within third-party risk management. At its core, the Integrity Platform, a no code, workflow orchestration platform, enables ethics and compliance teams to effectively assess and manage risk while affecting change by driving proactive ethical and compliant behaviour across the enterprise. The platforms’ unified view of both internal and external risks, combined with its automation capabilities, transforms an organisation’s ability to create a holistic view of its risk landscape and deploy a control environment to manage exposure and unlock sustainable growth.

Risk & compliance applications on the Integrity Platform benefit from a unified data-structure, no-code workflow technology and granular role-based access control. Every application built on the Integrity Platform, from third-party risk management to conflicts of interest, gifts, donations, antitrust, risk assessments and more, empowers companies to design and deploy tailored solutions that accommodate unique organisational setups and internal processes to drive meaningful outcomes and actionable business intelligence. The Integrity Platform empowers compliance teams with cross-application reporting connecting external and internal risks, closing the gaps on functional and data silos for a true holistic management of enterprise risk.

Nicholas Manolis, CEO, GAN Integrity, said: “We’re incredibly excited to partner with Apax in this next stage of our journey. This investment provides us with the resources and flexibility to execute on our ambitious customer product road map and growth plans, providing even more organisations around the world with a platform that makes good governance effortless. With our talented team, and Apax’s unique insights and operational expertise, we have an exciting future ahead.”

“GAN helps its customers drive significant positive impact, and we are thrilled to have the opportunity to partner with Nick and the team. Ethics and compliance behaviours start at the top of all organisations, but businesses need an effective and scalable solution to implement policies and procedures, and GAN provides just that”, said David Su, Managing Partner, Apax Global Impact.

Juan Pablo (JP) Moncayo, Principal, Apax Global Impact, said: “We couldn’t be happier to be partnering with GAN and helping to fuel the next stage of its growth. Our research confirms that the Company’s platform directly helps drive positive corporate behaviour, acting as an enabler of good governance for the benefit of employees, stakeholders, and society at large. We believe that GAN has the potential to be a leader in this important space and we look forward to working closely with the team to reach our collective ambitions.”

Financial terms were not disclosed.

-ENDS-

ABOUT GAN Integrity

GAN Integrity helps global organisations elevate business ethics everywhere. We work with the world’s smartest companies to help them manage risk, impact behaviour and deliver long term strategic value.

GAN enables enterprises to embed ethics in and around their business, by engaging everyone, from front line workers to third parties and stakeholders on their journey towards ethical business transformation. The Integrity Platform has built-in flexibility to quickly adapt to changing regulatory requirements combined with the ever-demanding ethical expectations of their employees.

 

ABOUT APAX & APAX GLOBAL IMPACT

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

For more information see: www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

 

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Apollo to provide up to EUR 1.5 billion High Grade Capital Solution to an Air France-KLM operating affiliate supported by commercial partner contracts of its Flying Blue loyalty program

Apollo logo

NEW YORK, Oct. 26, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the signing of an agreement for Apollo-managed affiliated entities, funds and clients to invest up to €1.5 billion into an Air France-KLM (PAR: AF FP) operating affiliate holding the trademark and most of the commercial partners contracts related to Air France and KLM’s joint loyalty program (Flying Blue). Air France-KLM has committed to spend €100 million in sustainable aviation fuel over the next four years.

The inaugural European loyalty program financing transaction will provide Air France-KLM with a capital solution to further strengthen its balance sheet and enhance Flying Blue’s scalability and growth prospects. This financing is the third transaction between Apollo and Air France-KLM within the last 18 months.

Apollo Partner Jamshid Ehsani said, “Apollo is pleased to continue to serve as a capital partner to Air France-KLM. This latest transaction is indicative of our ability to provide high grade capital solutions, in scale, to high-quality corporations around the world, while creating attractive, downside protected investment opportunities for our insurance platforms, funds and clients. At Apollo, we are increasingly acting as a leading solutions provider to large global corporations active in capital intensive industry sectors, including Aviation, Real Estate, TMT, Utilities, Transportation and Pharmaceuticals, among others.”

Milbank LLP, Latham & Watkins LLP, NautaDutilh and Barclays are acting as legal counsel and financial advisor, respectively, to Apollo affiliates, funds and clients. Apollo Capital Solutions provided structuring and syndication services in connection with the transaction. Deutsche Bank AG and Skadden, Arps, Slate, Meagher & Flom LLP acted as exclusive financial and legal advisors, respectively, to Air France-KLM.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2023, Apollo had approximately $617 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

 

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Oakley Capital announces partnership with Boardwave

Oakley

Oakley Capital is pleased to announce its partnership with Boardwave, the leading independent network of European software founders, CEOs, Chairs, NEDs and investors. Boardwave was founded by ex-Salesforce executive Phill Robinson to help drive Europe’s transformation into a software powerhouse. It offers members the opportunity to connect, collaborate, share best practice and mentor one another.

Quote Peter Dubens

We’re pleased to be partnering with Boardwave and share Phill’s vision to build a worldclass tech ecosystem right here in Europe by sharing our expertise and our connections. Boardwave will help augment Oakley’s own network and offer our portfolio companies and management teams the opportunity to connect and collaborate with other software leaders across Europe.

Peter Dubens

Founder and Managing Director — Oakley Capital

Oakley has significant experience as a pan-European technology and software investor. Recent investments include SaaS hosting platform Webpros, cloud hosting platform Contabo, ecommerce SaaS solutions provider ECOMMERCE ONE, and enterprise management software provider Cegid (previously Grupo Primavera).

We’re delighted to welcome Oakley Capital as partners to Boardwave and look forward to having Oakley portfolio companies and management teams join our community of like-minded leaders. Oakley has a strong track record partnering with successful tech and software businesses, experience that will be very useful for our existing members to draw on.

Phill Robinson

Founder — Boardwave

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Portobello closes the sale of Grupo CTC to Randstad

Portobello

Transaction signed in June, antitrust clearance achieved
Madrid, 25th October 2023.- Today Portobello Capital, the leading independent midmarket private equity manager based in Spain, announced it has closed the sale of
Grupo CTC to Randstad NV, the world’s largest talent company.

Grupo CTC provides outsourced industrial, logistics and sales & marketing services to
customers in its home market of Spain and in Portugal. The company currently operates
from 14 regional offices and 11 owned logistics facilities, servicing over 200 customers.
Demand for outsourcing services is growing significantly in Spain and, with the proposed
acquisition, Randstad will continue to expand its leadership presence in the region. The
move is in keeping with Randstad’s broader strategic objective of strengthening its
capabilities in value added services for customers in key markets.

“We are investors in the different companies which are now part of CTC since 2006.
During this period, CTC has become the absolute leader in the outsourcing market, and
we want to compliment Juan-Cruz Alcalde and the rest of the management team for
growing this organization to date. We are absolutely convinced that as part of Randstad,
Grupo CTC will continue to accelerate and deliver excellence to its customers in Spain
and Portugal.”

— Luis Peñarrocha, Founding Partner of Portobello
The transaction was signed in July and completion was subject to antitrust clearance,
which was achieved on October 11th.

about randstad
Randstad is the world’s largest talent company and a partner of choice to clients. We are committed to
providing equitable opportunities to people from all backgrounds and help them remain relevant in the rapidly
changing world of work. We have a deep understanding of the labor market and help our clients to create
the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the
world make a positive impact on society by helping people to realize their true potential throughout their
working life.

Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets,
we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their
talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam.
For more information, see www.randstad.com

about Grupo CTC
Grupo CTC was created through the complementary integration of two leading companies in the outsourcing
industry, Stock Uno, specialized in operational marketing, and CTC Externalización, leader in logistic and
industrial processes. Grupo CTC renders a wide range of high value-add services to customers enhancing
productivity, flexibility, focus on core tasks and capital management. Headquartered in both Madrid and

PORTOBELLO CAPITAL GESTIÓN SGEIC, S.A
ALMAGRO, 36 – 28010 MADRID NIF: A-86262375
Inscrita en el Registro de la Comisión Nacional del Mercado de Valores, nº 92
y en el Registro Mercantil de Madrid, tomo 29.064, folio 80, sección 8ª, hoja M-523.318
Barcelona, Grupo CTC counts with a rich 35 year history in the market, possessing significant capillarity
across 14 branch offices in Spain and Portugal. For more information, please refer to the Grupo CTC website
at www.grupoctc.com/

about Portobello Capital
Founded in 2010, Portobello Capital is a leading independent mid-market private equity manager based in
Spain and operating across Southern Europe. Portobello Capital has assets under management worth more
than 2 billion euros, an experienced team of 40 professionals and a current portfolio of 22 companies. For
more information, please refer to the Portobello Capital website at www.portobellocapital.es/en/

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Affirma Capital makes over 9x money multiple from TBO.com

Affirma Capital

We are pleased to announce that Affirma Capital has exited part of its stake in TBO Tek Ltd (“TBO”) to
General Atlantic at over a 9x money multiple of its investment subject to terms and conditions agreed
by the parties. Affirma Capital invested approximately INR 3 billion (USD 42 million) in 2018 through a
secondary transaction immediately prior to its spin-off from Standard Chartered Bank.

Multi-bagger exits in private equity are rare. When they happen, they can be due to investors taking a
contrarian bet, a company’s disruptive product offering, exceptional management execution or due to
strong market tailwinds. In our case, we are fortunate that all the above have been contributors.

First: Since TBO largely serves offline travel agents, there was always a concern that this market
segment would get marginalised at the cost of customers directly booking online. However, outbound
travel is highly complex and travel agents play, and will continue to play, a crucial role in facilitating
leisure and corporate travel. The outbound market has not only grown but the company has
continually expanded its offering to thousands of its agents worldwide: Affirma Capital invested in TBO
when the business was primarily India focused and has worked with management to transform the
business into a global player by expanding organically and through acquisitions.

Second: TBO’s robust tech platform simplifies travel and removes the friction that travellers face today
– yes, simplicity can be disruptive!

Third: Having great products or access to large market opportunities can be meaningless without
strong leadership. Gaurav and Ankush are exceptional leaders who have executed well with the help
of the strong management team that they have built. Covid was the mother of all crises that a travel
company could face but this management team turned adversity into opportunity by opening new
business lines, adding global talent, making bolt-on acquisitions and creating goodwill with suppliers
and travel agent consumers.

Finally, no one can control the markets, but the pandemic has taught us that life can be unpredictable,
and we shouldn’t hold back on spending on things we enjoy. Travel allows people to unwind, spend
time with friends and families and expand one’s horizons. So, growth in outbound travel is a trend
that’s here to stay (even today, only a small percentage of Indians have passports).
“We are grateful to Affirma Capital who have supported us immensely during the last five years,
including during the COVID pandemic, and have been true value-add partners in our scale-up
journey,” said Gaurav Bhatnagar and Ankush Nijhawan, co-founders of TBO, commenting on the deal.

“Since our investment in 2018, we have witnessed TBO’s transformational journey to becoming one of
the leading travel technology platforms globally. We continue to believe in its potential to aggregate and
digitize travel for travel partners across the globe and are excited to remain invested in the business,”
said Udai Dhawan, Founding Partner and India Head at Affirma Capital.

Note to Editors:
About Affirma Capital
Affirma Capital is an independent emerging market private equity firm owned and operated by the
former senior leadership of Standard Chartered Private Equity (SCPE). It currently manages c. USD
3.2 billion in assets for leading global limited partners and sovereign wealth funds and has offices in
Singapore, Seoul, Shanghai, Mumbai, Dubai, and Johannesburg.
About TBO Tek Ltd
TBO is one of the leading global travel distribution platforms that offers an integrated two-sided
technology platform, thus acting as a seamless interface between suppliers and buyers. TBO’s platform
allows the large and fragmented base of suppliers to display and market inventory to, and set prices
for, the large and fragmented global buyer base. TBO has a diversified global footprint and revenue
mix, and has regional operation centres across India, Middle East, Europe, North America, APAC and
Latin America.
For more information please contact media@affirmacapital.com

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KKR To Invest In Precipart To Accelerate Growth

KKR

KKR to support organic and inorganic growth to enhance Precipart’s leadership position as a provider of highly engineered precision components

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today that it has agreed to invest in Precipart (the “Company”), a leading contract manufacturer of precision components for the medical device and aerospace industries. KKR plans to support the Company in its continued growth organically and through M&A. Financial terms were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231024406369/en/

Founded in 1950 by the Laubscher family, Precipart manufactures highly engineered custom components, offering a comprehensive solution across design, engineering, manufacturing, and assembly for leading Original Equipment Manufacturers (“OEM”). In particular, the Company is a global leader in gears and motion control solutions across a range of end market segments, including surgical robotics. The Laubscher family remains highly committed to Precipart and is retaining a significant minority ownership stake in the Company.

Oliver Laubscher, CEO of Precipart, commented: “My family and I are thrilled to form this strategic partnership with KKR. With KKR’s differentiated industry insights, global network, and deep bench of resources, we will be able to expand our capability offerings substantially, serve our customers better and at greater scale, and make Precipart an even better home for our talented employees. We look forward to working with the KKR team to build on what we have accomplished over the past 73 years.”

Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, said: “We believe that Precipart has the foundational strength and customer orientation to become a global platform and are thrilled to collaborate with the Company on its growth ambitions. This investment is a solid example of our Health Care Strategic Growth approach of backing leaders in thematic areas that we have followed over time and for which we believe that KKR can serve as a strategic partner in helping reach scale.”

Anuv Ratan, Director at KKR, added: “We have deep admiration and respect for the business that Oliver, his family, and the management team have built and are excited to be their chosen strategic partner to support the Company going forward. The medical device market is in need of sophisticated, scaled solution providers that can help customers navigate supply chain complexity, and we believe that Precipart is uniquely positioned to become a best-in-class partner to medical device OEMs.”

KKR is investing in Precipart through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care-related companies. KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004.

Completion of the transaction is subject to customary closing conditions.

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 Precipart

Precipart, founded in 1950 with roots in Swiss engineering and manufacturing, is a leading contract development and manufacturing organization of highly engineered precision components and assemblies, primarily for the medical device industry as well as the aerospace and industrial markets. Precipart, through its mission to Engineer Possible, is a comprehensive solution provider supporting its customers from the concept phase to serial production and in managing their growing supply chain complexity. Major product offerings include precision machining, micro mechanical components, assemblies, gear systems, motion solutions, technical ceramics, and advanced 3D printing.

For Precipart:
Oliver Laubscher
Email: media@precipart.com

For KKR:
Julia Kosygina or Emily Cummings
+1 212-750-8300
media@kkr.com

Source: KKR

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