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NO.1 ST MICHAEL’S FULLY LET AHEAD OF CONSTRUCTION COMPLETING

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KKR

Development is the city’s largest speculative office building in 15 years to be fully let prior to completion.

Manchester, 19 December 2024 – No.1 St Michael’s has reaffirmed its position as the best new office development outside London by achieving fully-let status ahead of construction completing.

It is the first time in 15 years a speculative office building of this scale in Manchester has been fully let prior to practical completion.

Since construction commenced on the 100% speculative development in 2022, Relentless Developments has secured six office tenants and three F&B operators – setting a new headline rent for offices in the city on three occasions.

The multi-let nature of No.1 St Michael’s presents a perfect tenant mix of national and international occupiers from the legal, market intelligence, technology, AI and media sectors. While the F&B provision will see three iconic brands open their first UK venues outside London.

Set to open for business in late spring 2025, the development will become the city’s first fully-let Net Zero Carbon commercial development both in operation and delivery. It has been brought to the market through a joint venture between Relentless and leading global investment firm KKR, and with the full support of Manchester City Council.

Bowmer and Kirkland commenced construction of the building in January 2022 with leasing consultants,  OBI Property, CBRE and Metis Real Estate instructed to support Relentless with letting the commercial space. Kuits Solicitors has provided legal advice.

Gary Neville, Director at Relentless Developments, said: “It was a huge leap of faith to speculatively-build a development in excess of 200k sq ft but we’ve always been confident in our ambition for the building. We spent a great deal of time understanding what modern occupiers want from an office and ensured we carefully selected the right amenities and F&B operators into the development. We also recognised sustainability was crucial and invested heavily in time and capital to ensure our ESG credentials met the aspirations of our tenants.

“Achieving fully-let status ahead of completion is thanks in no small part to the world-class partners we’ve had supporting us along the way; KKR and Manchester City Council for remaining committed to our vision, our tenacious agent partners for marketing the scheme’s potential and B&K for the beautiful building we’ve created. I’d also like to thank all our tenants for their trust in our ability to set new standards in quality, aesthetic and experience for office working here in Manchester.”

Nicky Barker, Head of Asset Management in KKR’s European Real Estate team, said: “In today’s market, top tenants expect world-class sustainability, a prime location and distinctive amenities – these have become crucial drivers of long-term value. This was the vision we shared with Relentless when collaborating on the development of St. Michael’s, a vision now affirmed by the project’s success in setting new benchmarks for Manchester’s real estate market.”

A further 80k sq ft of office space will be available at No. 2 St Michael’s and is set to be launched imminently. Enquiries should be sent via st-michaels.com/enquiries

About Relentless Developments

Relentless Developments is a property development company led by Anthony Kilbride and Gary Neville. Projects to-date include Hotel Football in Old Trafford and the Stock Exchange Hotel in the city centre.

15 years in the making, St Michael’s is Relentless Developments’ most ambitious development to date. The fully Net Zero development will set new sustainability standards, targeting NABERS 5* and BREEAM Outstanding. The £400m regeneration project is supporting 6,000 new, construction and operational jobs and will bring an estimated £300m of benefit to public sector finances.

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.

Media enquiries: lisa@truth-pr.co.uk

 

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Aiwyn Secures $113M in Funding from KKR and Bessemer Venture Partners to Revolutionize Firm Operations and Tax Technology for Leading CPA Firms

KKR

CHARLOTTE, N.C.–(BUSINESS WIRE)–Aiwyn, a trusted technology partner for top Certified Public Accounting (“CPA”) firms, today announced the successful close of a $113M funding round. This landmark investment, led by leading global investment firm KKR and Bessemer Venture Partners underscores Aiwyn’s leadership in the accounting technology sector.

Today, Aiwyn serves 130 of the top 500 CPA firms as a leading provider of automation software designed to streamline the full revenue management lifecycle for accounting firms. Aiwyn’s current product creates an exceptional client experience for CPA firms by automating manual payments and collections workstreams and reconciling payments and invoices for both CPAs and their end-clients.

“Aiwyn is committed to empowering CPA firms to elevate their operations and client relationships,” said Justin Adams, Chairman & CEO of Aiwyn. “With this investment, we are poised to redefine how firms manage their operations from the CRM to the General Ledger while setting a new benchmark for client experiences. For too long, firms have had to decide between a legacy vendor or modern point solutions. We are proud that Aiwyn is a trusted platform for CPA firms.”

The new funding will support Aiwyn’s vision to evolve its payments and collections suite into a comprehensive practice management platform. This includes the creation of the industry’s first universal client experience portal, enabling CPA firm clients to access all their engagements in one seamless interface. The investment will also enable Aiwyn to accelerate product development, bringing the full capabilities of AI and cloud technologies to the sector by building out both a comprehensive practice management platform as well as a cutting-edge tax solution that is currently in development.

“The accounting industry represents a large market that has long been served by legacy players. Aiwyn is solving a clear functionality gap in the market with a solution that is easily adopted and rapidly delivers tangible enhancements to the customer experience, most noticeably through significant reductions in days sales outstanding,” said Jackson Hart, a Principal on KKR’s Technology Growth team.

“We were also impressed by Aiwyn’s Net Promoter Score, which is a testament to the unmatched value Aiwyn delivers to their clients, as well as the deep trust they’ve earned in the market. We believe Aiwyn is well-positioned to continue to improve the lives and operations of their customers as they transform the way leading CPA firms do business,” added Ben Pederson, a Director on KKR’s Technology Growth team.

Jeremy Levine, Partner at Bessemer, said: “Aiwyn’s product suite is already quite impressive, but the company is really just getting started on its quest to deliver compelling technology to the accounting industry.“

This funding round highlights the alignment of Aiwyn’s mission to empower accountants with the tools they need to thrive. By offering scalable, future-proof solutions, the company aims to shape the future of firm operations and tax technology and put trust into technology for firms and their clients.

KKR is funding this investment primarily from its Next Generation Technology III Fund.

Cooley LLP served as legal advisor to Aiwyn, Latham & Watkins LLP served as legal advisor to KKR and Arnold & Porter Kaye Scholer LLP served as legal advisor to Bessemer.

Contacts

Media
Aiwyn
Lauren Jennings
lauren.jennings@aiwyn.ai

KKR
Liidia Liuksila or Emily Cummings
media@KKR.com

Bessemer
Amie Rubenstein
press@bvp.com

 

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Citation welcomes new investment from HarbourVest Partners supporting its growth as a global provider of SME compliance and certification solutions

KKR
  • HarbourVest Partners joins forces with Hg and KKR to propel Citation’s growth ambitions, international expansion and innovation in AI.
  • The strategic partnership will back CEO Chris Morris and his team as they continue to support the compliance needs of over 110,000 SME customers across the UK, Australia and Canada.

London, UK – 19 December, 2024 – The Citation Group (Citation), an international provider of tech-enabled compliance and certification solutions to small to medium-sized enterprises (SMEs), today announce that they have welcomed HarbourVest Partners (HarbourVest), a global private markets investment manager, as a new investor in the business. This new chapter of investment will see HarbourVest join forces with the management team and majority investors, KKR and Hg, to bolster Citation’s international growth trajectory – organically, through product development in AI and through strategic acquisitions.

Citation supports SMEs in the UK, Canada, and Australia, acting as a critical partner for over 110,000 SMEs businesses navigating the complexities of HR, Health and Safety, and Quality Certifications.

Chris Morris, CEO of Citation, said: “We’re thrilled to welcome HarbourVest as our new strategic partner. Their expertise, along with the continued support from Hg and KKR, will be instrumental as we pursue our vision of simplifying compliance for SMEs globally. Our focus remains on providing peace of mind to business owners, allowing them to concentrate on growing their enterprises, while we protect their people, their businesses and their reputations.”

This transaction follows a period of sustained and rapid growth at Citation, in which the Group has benefited from its leading quality and the breadth of its mission-critical compliance solutions, as well as its hybrid approach in leveraging both software and services to optimally serve its customers’ compliance needs. In the last four years, Citation has entered Canada and Australia – now jointly representing c.20% of revenue, and consistently stayed in excess of “rule of 40” economics.

Gonçalo Faria Ferreira, Managing Director at HarbourVest, said: “We are excited to become a  strategic partner to Citation, joining Hg and KKR to support the Group’s continued growth. Having followed the business for several years, we are impressed by what Chris and his team have achieved. We see strong potential for the business going forward as it continues its mission to simplify compliance for SMEs.”

Joris Van Gool and Nick Jordan, Partners at Hg, said: “Citation stands as a testament to what can be achieved with the right team, technology and strategic partners. The addition of HarbourVest to the fold marks an exciting new phase for Citation, as we continue to unlock the immense potential within the SME compliance space.” Hans Arstad and Rami Bibi, Managing Directors in KKR’s European Private Equity and Global Impact teams, added, “We’re excited to welcome HarbourVest as Citation continues its strong growth under Chris and the team. Together, we’ll further expand Citation’s reach and enhance its offering through strategic acquisitions and innovation, positioning the business for continued success.”

The transaction details have not been disclosed. Jefferies acted as financial advisors to Citation Group, Hg and KKR.

For further inquiries, please contact:

Citation:
Stephanie Beane
Email: stephaniebeane@citation.co.uk

Harbourt:
Andrew Hopkins
Email: ahopkins@harbourvest.com

Hg:
Tom Eckersley
Email: tom.eckersley@hgcapital.com

KKR:
Annabel Arthur
Email: annabel.arthur@kkr.com

About Citation
Citation is a leading provider of tech-enabled compliance (HR, Health and Safety) and certification subscription solutions to SMEs in the UK, Canada, and Australia/New Zealand. Serving a diverse customer base, Citation provides its customers with a suite of software tools and services, supporting businesses both on a day-to-day basis, as well as in their moment of need. Its offering allows customers to operate with confidence in compliance and certification matters, while being a cost-effective alternative to professional services, and a more holistic solution compared to software-only solutions.

About HarbourVest
HarbourVest is an independent, global private markets firm with over 42 years of experience and more than $132 billion of assets under management as of June 30, 2024. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,200 employees, including more than 245 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $59 billion to newly-formed funds, completed over $58 billion in secondary purchases, and invested over $41 billion in direct operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

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 Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well. With a vast European network and strong presence across North America, Hg’s 400 employees and around $75 billion in funds under management support a portfolio of around 50 businesses, worth over $160 billion aggregate enterprise value, with around 110,000 employees, consistently growing revenues at more than 20% annually. https://hgcapital.com/

 

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KKR Invests in Leading Internet Restaurant Company Rebel Foods

KKR
  • Transaction marks KKR’s latest growth equity investment in India

MUMBAI, India–(BUSINESS WIRE)– Rebel Foods, a leading internet restaurant company, and global investment firm KKR today announced the completion of an investment in Rebel Foods by affiliates of KKR. Through this transaction, KKR will support the Company’s growth, including its expansion in India and the Middle East and adding more food and beverage brands into its portfolio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241218686026/en/

Founded in 2011 as a quick service restaurant, Rebel Foods is today the world’s largest multi-brand cloud kitchen platform, with 450 cloud kitchens serving a network of more than 5,000 internet restaurants in more than 70 cities across India, the UAE, and the UK, and more than two million customers globally. Rebel Foods uses a proprietary technology stack to deliver on end-to-end food orders, demand forecasting, brand launches and customer insights for multiple food and beverage brands. Over the years, Rebel Foods has built a comprehensive ecosystem of brands, including Faasos, Behrouz Biryani, Oven Story Pizza, Lunchbox, The Good Bowl, Sweet Truth, and Wendy’s, among others.

Jaydeep Barman, Co-founder and CEO of Rebel Foods, said, “We are happy to welcome KKR as a strategic partner in our journey. Their investment is a testament to the inroads we have made towards our vision of building a stronger platform, expanding our portfolio of brands, scaling our omnichannel presence, and achieving operational excellence on a global scale. We look to tap into KKR’s deep experience and global expertise to supercharge our continued growth. As we continue to scale, our focus remains firmly on innovation, sustainability, and delivering long-term value for our customers and stakeholders.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “We are pleased to invest in Rebel Foods, the largest cloud kitchen operator and brand owner, using technology to deliver a range of cuisines and culinary experiences to consumers. We look forward to leveraging our global network and local knowledge, and operational and technology expertise to further scale the company’s ability to expand its portfolio and deliver novel products to meet consumers’ evolving preferences.”

This transaction marks KKR’s latest investment in India made from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across consumer technology, software, and FinTech.

KKR’s other growth equity investments in Asia Pacific include SmartHR, a cloud-based HR management software in Japan; MUSINSA, an online fashion platform in Korea; Advanced Navigation, a developer of AI robotics and navigation technology in Australia; Privy, a digital trust provider in Indonesia; KiotViet, a merchant platform for SMEs (small and medium-sized enterprises) in Vietnam; and GrowSari, a B2B e-commerce platform serving SMEs in the Philippines.

Avendus Capital acted as the exclusive financial advisor to Rebel Foods on this transaction.

****

About Rebel Foods

Rebel Foods is the world’s leading internet restaurant company and home to brands including Faasos, Behrouz Biryani, Oven Story Pizza, The Good Bowl, Sweet Truth, and Wendy’s. With over 450 kitchens across 70 cities, Rebel Foods has developed its full-stack technology – Rebel OS – through which multiple Rebel brands are launched and scaled up in a very short period. Through the Rebel Launcher, powered by Rebel OS, Rebel has launched over 25+ brands and expanded across the country. Rebel Foods currently operates 45+ brands across multiple countries – India, the United Arab Emirates (Dubai, Abu Dhabi, Sharjah) and the United Kingdom.

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.

Media Inquiries
For Rebel Foods
Kruttik Parekh
+91 97 6999 2707
Kruttik.parekh@rebelfoods.com

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

Source: KKR

 

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Bridgepoint partners with Surikat, a leading SaaS provider of Supply Chain Solutions

Bridgepoint

Bridgepoint has announced its partnership together with the CEO and founder of Surikat, a leading provider of software solutions for the maritime and logistics sectors. The investment was made via Bridgepoint Growth II (BG II), its small-cap fund focused on supporting the continued global growth of dynamic, rapidly growing businesses across Europe and North America.

Surikat, headquartered in Gothenburg, Sweden, develops innovative software solutions for land-based and maritime logistics, addressing the complex needs of ports, terminals, and transportation operators globally. The partnership announced today positions Surikat for accelerated expansion and continued leadership on innovation within its market and reflects Bridgepoint’s commitment to supporting companies making use of technology to achieve transformational growth, with strong business models and profitability.

Surikat’s SaaS solutions are centred on its market-leading Terminal Operating System (TOS) and Transport Management System (TMS), which deliver real-time visibility, automation, and operational efficiency. Serving over 35 countries, Surikat has an impressive client portfolio, including Stena Line, P&O Ferries, and Kuehne+Nagel. The company’s highly scalable platform integrates seamlessly into clients’ IT ecosystems, driving measurable ROI while supporting safety and regulatory compliance with key stakeholders.

International demand for modern software solutions in ports and logistics is expanding rapidly, with the global addressable market forecasted to continue to grow at high double-digit rates annually for TOS and transport visibility solutions. This growth is underpinned by increasing adoption of cloud-based systems, regulatory demands, and a global push for greater transparency across supply chains. Surikat has already established itself as a trusted and leading provider in the high-growth niche of mission-critical logistics software for maritime and land based terminals, with an impressive 31% revenue CAGR from 2021 to 2024.

Under the leadership of CEO Andreas Karlsson, who will remain as a significant shareholder alongside Bridgepoint, Surikat will continue to pursue an ambitious growth strategy. Leveraging the depth of sector expertise across Bridgepoint’s global office network, Surikat will expand its presence across new geographies, further enhance its industry-leading software platform, and scale its operations, targeting adjacent markets such as intermodal and inland terminals as well as entry into additional high value geographies such as North America. Bridgepoint will provide strategic guidance and resources to reinforce Surikat’s scalability and position as a preeminent provider in the logistics software sector.

Andreas Karlsson, CEO of Surikat, added:

“Surikat has achieved remarkable profitable growth to date by consistently delivering premium, reliable, and highly innovative mission-critical software for our clients in the maritime and logistics sectors. This partnership with Bridgepoint marks the next exciting chapter in our journey. Benefitting from Bridgepoint’s sector expertise and breadth of resources globally, we are well-positioned to accelerate our expansion into new markets and continue setting new benchmarks for customer value and innovation in the logistics software space.”

Ann Dahlman, Partner at Bridgepoint Growth, commented:

“Surikat is a prime example of the innovative businesses we seek to support. Its cutting-edge software solutions and leading market position align perfectly with our strategy to back high-growth, profitable technology companies. Deploying the full breadth of sector expertise and resources across Bridgepoint’s global office network, we look forward to partnering with Andreas and the team to realize Surikat’s full potential in its European home market, and in exciting new geographies globally.”

The transaction closed in December 2024. The transaction builds on Bridgepoint’s track record of backing high-growth small-cap technology businesses in Europe, such as Condatis, one.network , TicTac as well as leading logistics software businesses such as Unifaun/Memnon, Sinari and PTV Group.

Bridgepoint was advised by Snellman (Legal Advisor), Roland Berger (Commercial Due Diligence), Crosslake (Tech Due Diligence), Alvarez & Marsal (Financial Due Diligence), Svalner (Tax Due Diligence). Surikat was advised by EY and Delphi as Legal Advisor.

Financial terms of the transaction were not disclosed.

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Tikehau Capital completes the sale of ENSO to Igneo Infrastructure Partners

Tikehau

ENSO is Spain’s leading bioenergy platform, dedicated to decarbonising industrial customers. It currently operates 200MWth of installed thermal capacity and has a scalable pipeline to develop additional 400MWth over the next three years.

• The transaction demonstrates Tikehau Capital’s value creation strategy through its Private Equity Decarbonisation Strategy, transforming an asset carve-out from Gestamp Renewables into Spain’s leading industrial decarbonisation platform. • Under Igneo’s ownership, ENSO is expected to continue to deliver top-tier services to existing clients such as García Carrión, Solvay, Acor and International Paper, among others.

• The scope of the transaction is 100% of the shareholding in ENSO. Tikehau Capital, the global alternative asset management group, and Igneo Infrastructure Partners (Igneo), today announced the completion of the sale of ENSO to Igneo. Headquartered in Madrid, ENSO is Spain’s leading integrated bioenergy platform, specialising in the engineering, development, financing, construction, operation and supply of electric, thermal and cogeneration biomass plants. These facilities are designed for large thermalintensive industrial clients aiming to decarbonise onsite heat and/or electricity generation, replacing natural gas or other fossil fuels. ENSO’s ambitious growth strategy targets the development of approximately 400MWth in biomass projects over the next three years, supported by an initial investment programme of approximately €450 million. The platform currently operates five assets and manages a robust pipeline of projects at various stages of development, with several now entering the construction phase. This initiative aims to offset up to 500,000 tonnes of CO2 emissions, reflecting ENSO’s mission to deliver sustainable thermal energy solutions to top-tier industrial clients across the Iberian Peninsula. The company is also actively seeking to contribute to the renewable fuels transition by capturing and supplying biogenic CO2, leveraging the experience gained in the first carbon capture unit (CCU) already operational in its portfolio. This project is being carried out in partnership with Carburos Metálicos under the LIFE granting scheme.

Tikehau Capital invested in ENSO in 2020 through the carve-out of Acek Renewables’ biomass businesses from the Gestamp Group. In response to rising demand for renewable thermal energy to reduce CO2 emissions, ENSO has become a trusted partner for corporates in sectors such as food & beverage, paper and chemicals, supporting their transition to lowcarbon operations. The acquisition of ENSO further expands Igneo’s renewables footprint in the Iberian Peninsula, highlighting its long-term commitment to driving the global energy transition. Other assets in Igneo’s European renewables sector include DAH Group, an integrated renewable energy company in Germany, and Finerge, Portugal’s second-largest renewable energy producer. 1 2 PRESS RELEASE  MADRID, 18 DECEMBER 2024

David Martín, Co-Head of Iberia at Tikehau Capital, declared: “ENSO’s growth under Tikehau Capital’s stewardship embodies our core mission: identifying and empowering companies that drive meaningful, transformative change. Since our investment in 2020, ENSO has established itself as a key player in the decarbonisation and reindustrialisation of critical sectors across Spain and Portugal. We are proud to have supported ENSO in reaching this significant milestone and are confident that, under Igneo’s ownership, the company will continue to play a pivotal role in the energy transition.”

Hamish Lea-Wilson, Partner and Head of Europe at Igneo Infrastructure Partners, commented: “We are delighted to support ENSO in its mission to decarbonise leading Spanish industrial players, provide the financial support to deliver its current project pipeline, and to contribute to both Spain’s energy independence and net zero targets. Our proactive and long-term approach to investing is fully aligned with ENSO’s strategy. With its impressive track record, ENSO is an ideal platform to further grow and support circular solutions for the Spanish economy while actively driving role the biofuels transition.” Elías Hernández, CEO of ENSO, said: “ENSO’s success has been an exciting journey with Tikehau Capital, and I believe Igneo is the right partner to further accelerate our progress. I also want to acknowledge the value generated by ENSO’s team, who have transformed the company from an industrial conglomerate’s business unit into Spain’s leading industrial decarbonisation platform. Together with Igneo, we remain committed to diving innovation and sustainability in the industry.” PRESS RELEASE  MADRID, 18 DECEMBER 2024 PRESS

CONTACTS: Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30 Spain – Kreab: Borja Miquel – +34 635 58 54 41 UK – Prosek Partners: Philip Walters – +44 (0)7773331589 US – Prosek Partners: Trevor Gibbons – +1 646 818 9238 press@tikehaucapital.com Igneo Group: MHP Group – igneo@mhpgroup.com SHAREHOLDER AND INVESTOR CONTACTS (Tikehau Capital): Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 shareholders@tikehaucapital.com

ABOUT TIKEHAU CAPITAL Tikehau Capital is a global alternative asset management Group with €47.1 billion of assets under management (as of 30 September 2024). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders’ equity as of 30 June 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 767 employees (as of 30 September 2024) across its 17 offices in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

ABOUT IGNEO INFRASTRUCTURE PARTNERS Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation/logistics sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on responsible investment and proactive asset management. Igneo manages €17.9bn worth of assets (as at 30 September 2024) on behalf of more than 200 institutional investors around the world. For more information, visit www.Igneoip.com. 3 PRESS RELEASE  MADRID, 18 DECEMBER 2024

 

DISCLAIMER The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the 4 information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America

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Gryphon Investors Completes Successful Sale of Kano Laboratories

Gryphon Investors

Exits Iconic Premium Branded Chemicals Platform After ~3x Revenue GrowthDuring Gryphon’s Ownership

Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today the sale of Kano Laboratories (“Kano” or “the Company”), a leading branded manufacturer of premium industrial penetrants and synthetic greases. Terms of the transaction were not disclosed.

Founded in 1939, Kano is a leading manufacturer of iconic Kroil®-branded penetrating oils used to loosen corroded metal parts. In early 2024, Kano acquired Synco Chemical Corporation, a manufacturer of food-grade greases, oils, and lubricants sold under the Super Lube brand. The Company serves diverse professional users in the industrial maintenance, repair, and operations (“MRO”) sector and specialty trades. Over the Company’s longstanding history, both brands have developed a passionate, enthusiastic customer base for their best-in-class products, which professionals and DIY enthusiasts trust to solve high-cost, mission-critical problems.

Keith Stimson, Deal Partner and Co-Head of Gryphon’s Heritage Group, said, “We are proud to have realized our vision of building on the impressive history of the iconic 85-year-old Kroil brand, positioning it for continued success as a market-leading platform of branded MRO chemicals. During our four-year hold, we built a terrific management team and collaborated with them to institute a sophisticated go-to-market strategy, enter new distribution channels, and build out our product portfolio through the acquisition of Super Lube. We were able to establish Kano as a scarce and scalable platform that is well poised to execute on many exciting growth opportunities ahead.”

Kano CEO Mark Klein commented, “Our partnership with Gryphon allowed us to transform the business as we scaled and solidified our place as a leader in premium branded penetrants, lubricants and greases.  The Gryphon operating resources we were able to collaborate with were truly value-add and helped us set and execute on a distinctive growth strategy including successfully penetrating more trade channels.”

BMO served as Gryphon’s lead financial advisor, and Houlihan Lokey served as financial advisor. Kirkland & Ellis acted as Gryphon’s legal advisor.

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About Gryphon Investors

Gryphon Investors is a leading middle-market private investment firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $9+ billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

Contact:
Lambert by LLYC

Caroline Luz

203-570-6462

cluz@lambert.com

or

Jennifer Hurson

845-507-0571

jhurson@lambert.com

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B+N acquires KÖBERL Group, a leading provider of facility management and technical building services, from Gimv

GIMV

The European investment company Gimv has sold its majority stake in KÖBERL Group, a leading German provider of facility management and building technology services, to the Hungarian company B+N Referencia Zrt. (“B+N”), the facility management market leader in Central and Eastern Europe. Armin and Karl Köberl, co-owners and co-CEOs, will remain shareholders and managers.

Based in Aschheim-Dornach near Munich, KÖBERL Group (www.koeberl.group) can look back on over 120 years of history. Today, the company is an established partner in the areas of facility management and building technology. With around 600 employees, the Köberl Group offers comprehensive solutions for residential, commercial and industrial properties. Thanks to a clear focus on quality and customer orientation, the Group has established itself as a leading full-service provider.

Gimv with the Messrs. Köberl have, since the start of their partnership in 2020, invested strongly in the expansion and strategic development of the company as well as its further digitalization. In addition to significant organic growth, particularly in facility management and in other regions, the service portfolio was expanded with targeted acquisitions and focus on recurring customers and revenues was strengthened.

Armin and Karl Köberl, Managing Directors and co-owners of the KÖBERL Group, declare: “With Gimv, we had an experienced and reliable partner at our side who provided us with significant support in implementing our growth strategy. We are looking forward to the next chapter with B+N to continue our success story, open up new potential for our customers and offer our employees even more prospects.”

Ferenc Kis-Szölgyémi, Managing Director and owner of B+N, declares: “We are delighted to support the KÖBERL Group, together with Messrs. Köberl, in the next phase of growth, especially in the further international expansion and the strengthening of vertical integration, specifically in infrastructural facility management. With Gimv’s guidance, Messrs. Köberl have built a high-performance company that responds to the critical needs of its customers and has a DNA that combines service orientation, agility and proximity – just like B+N. We are therefore particularly proud to have convinced Messrs. Köberl of our ability to support them in accelerating the Group’s development.”

Maja Markovic, Partner Gimv Sustainable Cities and Advisory Board Member of the KÖBERL Group, adds: “Our partnership with the KÖBERL Group is a success story in the German market. Together with Messrs. Köberl, we were able to significantly accelerate the Group’s growth and expand the company to become a leading full-service provider in building technology and management – one of the core product and services areas of Gimv’s Sustainable Cities platform. We would like to thank the entire KÖBERL Group team for their trusting cooperation.”

With this transaction, Gimv once again demonstrates its expertise in building leading companies through sustainable value creation and its ability to develop successful partnerships with entrepreneurs and management teams. The transaction is expected to close in Q1 2025.

Gimv anticipates a positive impact of approximately 1 euro per share on NAV as of September 30, 2024. The return achieved significantly exceeds Gimv’s long-term portfolio return target. The parties have agreed not to disclose further financial details of the transaction.

Categories: News

Our Series A Investment in Nuitée: API Infrastructure for Global Travel

Accel

Accel has a deep history of partnering with companies at scale, often based outside of Silicon Valley, led by truly great leaders, and have little to no external capital, like Atlassian, Braintree, Qualtrics, and Bird (formerly MessageBird). This approach aligns perfectly with our latest partnership, Nuitée, a company that has been quietly building a profitable business outside Silicon Valley for the past seven years.

Nuitée, led by CEO and founder Med Benmansour, is a global infrastructure provider powering the travel and hotel industry. Originating from Morocco and Spain, it has become an unexpected force: partnering with industry leaders like Hopper, Expedia, Priceline, Google, and Uber. Nuitée’s core strength lies in simplifying a complex web of suppliers and hotels into a single, user-friendly API, enabling businesses to offer travel products seamlessly.

Their approach reminds us of other interesting API-first companies in our portfolio, such as Checkr, Braintree, Scale AI, and Snyk. Med’s operational discipline echoes that of Atlassian, Braintree, and Qualtrics, building a scaled global business while generating cash every year.

Already, Nuitée is poised to disrupt the $75B B2B hotel market, which has surpassed pre-pandemic levels. The current B2B hotel industry is a fragmented mix of hotels, agents, bed banks, aggregators, and third-party suppliers, often plagued by poor coverage, unreliable technology, and opaque pricing. Nuitée’s modern tech stack and strong, direct hotel relationships offer a refreshing alternative.

As Nuitée becomes an increasingly integral part of B2B inventory distribution, it is also building a range of software solutions for hotels and sellers alike to distribute and operate their businesses more effectively. Over time, we believe Nuitée will become a central pillar of the travel ecosystem.

While Med didn’t need to “raise” capital, we admire his global ambition to build a unique and special company. We’re excited to lead Nuitée’s $48M Series A and partner with Med and his team as they work towards becoming the API backbone of the travel industry.

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Global Travel Technology Company OYO Completes Acquisition of G6 Hospitality from Blackstone Real Estate

Blackstone

New Delhi & Dallas – Oravel Stays, the parent company of the global travel technology company OYO, today announced that it has completed its previously announced acquisition of G6 Hospitality, the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million.

Advisors
Goldman Sachs & Co. LLC acted as Blackstone’s lead advisor and Jones Lang LaSalle Securities, LLC and PJT Partners acted as financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone’s legal advisor.

Deutsche Bank & Mizuho Securities served as OYO’s advisor in various capacities.

The transaction was announced on September 20, 2024.

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About OYO
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia. For more information, visit here

About G6 Hospitality LLC
G6 Hospitality LLC is a leading economy lodging franchisor, with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada. G6 Hospitality is committed to making hospitality accessible to all through responsible business practices and unparalleled opportunity for franchisees to build a legacy through ownership. Both Motel 6 and Studio 6 were recognized in the 2024 Entrepreneur Franchise 500® report, with Motel 6 ranking in the top 50 of all franchises. The Carrollton, Texas, based company was named a 2024 Leader in Diversity by Dallas Business Journal. For more information, please visit http://www.g6hospitality.com/.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $336 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

CONTACTS:

OYO
Anupriya Malik
Anupriya.d@oyorooms.com

G6 Hospitality
Maggie Giddens
Giddens_Maggie@g6hospitality.com
 
Blackstone
Jeffrey Kauth
Jeffrey.Kauth@Blackstone.com

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