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KKR to Acquire Dawsongroup to Accelerate Growth and Support Fleet Transition

KKR
anuary 21, 2025

New ownership will support Dawsongroup’s ambitious growth strategy and fleet transition in collaboration with existing management team

LONDON & MILTON KEYNES–(BUSINESS WIRE)– Dawsongroup (the ”Group”), a leading independent asset leasing business which provides a diverse range of business-critical solutions, and KKR, a leading global investment firm, today announce that KKR has entered into a binding agreement with the shareholders of Dawsongroup to acquire the Group. The acquisition will be made as part of KKR’s Global Climate strategy, dedicated to scaling net-zero solutions and transitioning and decarbonizing higher emitting assets, which closely aligns with Dawsongroup’s long-term sustainability-led ambitions.

Headquartered in Milton Keynes, UK, Dawsongroup has developed a solid platform with first-rate supplier relationships, a diversified customer base and is a supportive employer to over 1,150 employees across 11 countries. Since its inception in 1935, Dawsongroup has grown to be a sector leader in asset leasing, including vehicles and refrigerated boxes, with a broad and integrated business model that involves the customisation of assets to customer specification as well as maintenance and repairs. Dawsongroup has developed a strong position in the UK and a growing presence overseas with its highly attractive Smarter Asset Strategy, enabling businesses to cost-effectively transition to net zero.

As a fast-growing company with a strong track record of year-on-year growth, Dawsongroup has an ambitious, sustainable growth strategy in place to unlock its significant potential. Last year it posted a record performance with Group EBITDA of c.£250m and under new ownership, management will build on this strong platform to expand the markets it serves throughout the entire supply chain.

The Dawson family has controlled the Group for over 90 years, overseeing its significant growth to date. Joining forces with KKR will enable Dawsongroup to deliver on the next stage of its development, benefiting both customers and employees. As a business which effectively utilises EV, solar, Stage 5 generators, and battery storage as part of its unique energy focused service capabilities, Dawsongroup and KKR’s strategic partnership will significantly accelerate the decarbonisation of vehicle and asset leasing solutions. KKR will also work with Dawsongroup to implement an employee ownership programme, providing Dawsongroup employees with the opportunity to directly participate in the Group’s future success.

Stephen Miller, CEO of Dawsongroup commented: “KKR’s support will accelerate the launch of our sustainable growth strategy by continuing to deliver market-leading services for our customers in the UK, maintaining our EBITDA margin profile and providing a real opportunity to expand our unique offering internationally. We are delighted to have the backing of KKR as we enter the next phase of our development and effectively contribute to our customers’ transition to zero emissions.”

Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: “As one of the largest independent lessors of vehicles and temperature controlled solutions in the UK, Dawsongroup is a key player in the decarbonisation of mobility. We see a significant opportunity to accelerate the electrification of Dawsongroup’s fleet, in support of the Dawsongroup management team’s focus on sustainable solutions, and aligned with KKR’s commitment to advancing the transition to a low-carbon future. By deploying our global expertise and network, we will help Dawsongroup drive sustainable growth, expand into new geographies, and contribute to the broader shift toward cleaner, more resilient infrastructure.”

Freya Dawson added: “On behalf of the Dawson family, I am extremely proud of Dawsongroup’s achievements to date and we are highly supportive of this strategic partnership with KKR. With the Dawson family’s backing and long-standing support from employees, the Group has evolved into the innovative asset leasing platform it is today. Combining Dawsongroup’s highly experienced management team with the knowledge and experience of the KKR team, we believe the impressive trajectory achieved to date can accelerate even further and we look forward to its future success.”

With over 15 years of experience in infrastructure investing, KKR has deep expertise in renewable energy and climate-related investments and has invested more than $21 billion in this sector from its infrastructure platform alone. To date, KKR has made three investments from its Global Climate strategy, including in Zenobē, a UK-based market leader in transport electrification and battery storage solutions. Meanwhile, KKR has been investing in the UK for over two decades, having deployed over $24 billion in equity across all investment platforms, including over $5 billion in sustainability-related investments over the past three years in investments such as Smart Metering Systems, Citation, ERM, John Laing and Viridor.

The transaction is subject to the receipt of regulatory approvals.

About Dawsongroup

Dawsongroup is a leading independent asset leasing platform with a robust market position, providing a diverse range of business-critical solutions for longstanding blue-chip customers. Its Smarter Asset Strategy helps businesses improve efficiency and flexibility by offering high-quality equipment without the cost of ownership. This approach enables companies to access the latest technology, scale operations, and reduce capital expenditure, allowing them to adapt quickly to market demands and focus on growth.

Dawsongroup is UK-headquartered business founded in Leighton Buzzard in 1935, has developed a solid platform with first-rate supplier relationships, a diversified customer base and is a supportive employer to over 1,150 employees across 11 countries. For additional information about Dawsongroup, please visit the Group’s website at www.Dawsongroup.co.uk

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.

For Dawsongroup:
Richard Mountain / Victoria Hayns, FTI Consulting
dawsongroup@fticonsulting.com
+44 20 3077 0455

For KKR:
Alastair Elwen, FGS Global
KKR-LON@fgsglobal.com
+44 20 7251 3801

Source: KKR & Co. Inc.

 

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Basetwo Raises $11.5M Series A

AXA

Basetwo Raises $11.5M Series A to Transform Chemical Manufacturing with Physics AI Platform

Basetwo, an AI copilot for manufacturing engineers, today announced it has raised USD $11.5M in Series A funding led by AVP with participation from existing investor Glasswing Ventures, Deloitte Ventures, Global Brain Ventures, Shimadzu Corporation, Chiyoda Corporation, and prominent UAE angel investors via Qora71. The investment allows the company to accelerate its mission to revolutionize how pharmaceutical and chemical manufacturers optimize their production processes.

Pharmaceutical and chemical manufacturers face significant challenges when scaling production from lab to commercial scale and optimizing existing processes for quality and efficiency. When launching new drug compounds or chemical formulations to market, manufacturers must precisely determine numerous production parameters — from reactor temperatures to mixing speeds — while maintaining strict quality standards. At the commercial scale, teams must continuously verify production performance, identify issues, and implement corrective actions to ensure optimal batch quality. Traditional machine learning approaches relying solely on historical data struggle with these complex manufacturing processes, as they can only learn from correlations rather than the underlying physics and chemistry engineers use to control and troubleshoot these systems. This technology gap leads to significant inefficiencies, with 20 cents of every dollar spent in manufacturing going to waste — a staggering global loss of $8 trillion annually.

Basetwo’s Physics AI platform uniquely combines fundamental chemical engineering principles with artificial intelligence to optimize pharmaceutical and chemical manufacturing processes. This results in an up to 40% improvement in cycle times and raw material usage while helping customers achieve a 25% improvement in product quality. The platform enables manufacturers to run virtual experiments and simulate process changes before implementation, significantly reducing the time and cost traditionally required to optimize production processes and eliminating the risks associated with live testing.

“Amid the excitement around generative AI, most applications have focused on consumer use cases using black box models that learn from data patterns and correlation rather than foundational knowledge and principles,” said Thouheed Abdul Gaffoor, CEO and Co-founder of Basetwo. “Manufacturing requires a fundamentally different approach, incorporating decades of engineering expertise and physics-based understanding of how chemicals and equipment interact. Our Physics AI platform enables manufacturers to optimize complex processes with powerful and explainable models.

The confidence of our investors in this Series A round is a testament to the transformative potential of our approach. We’re thrilled to have their support as we expand our capabilities and continue to empower manufacturers with cutting-edge solutions for the challenges of today and tomorrow.”

The funding will accelerate the development of Basetwo’s AutoPilot technology for autonomous, real-time manufacturing control while expanding the company’s presence in the US, Japan, Europe, and the Middle East. Basetwo will continue growing its business development, AI, and software engineering teams to support increasing market demand.

“Basetwo is transforming how global manufacturers optimize their operations,” said Manish Agarwal at AVP. “Basetwo’s Physics AI platform addresses challenges critical for process efficiency and quality control, delivering measurable improvements that impact the bottom line. With their proven success across major pharmaceutical and chemical companies, Basetwo is positioned to become a leader in next-generation manufacturing optimization.”

Basetwo’s low-code platform empowers process engineers to leverage AI technology for critical use cases, such as quickly bringing new products to market and optimizing existing processes. The platform’s physics-based models provide interpretable insights that help engineers understand and control manufacturing systems while meeting regulatory requirements.

“Traditional manufacturing software was built for an era before cloud computing and modern AI,” added Gaffoor. “We’re excited to partner with global leaders across pharmaceuticals, chemicals, and consumer goods to usher in a new generation of intelligent manufacturing optimization that maximizes efficiency, quality, and sustainability.”

About Basetwo

Basetwo is a Toronto-based startup that provides an AI platform designed to enhance manufacturing efficiency. Working with category leaders in the pharmaceutical and consumer goods industry, Basetwo has helped manufacturers improve yield, cycle time, and operational costs by over 20-30%.

About AVP

AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Early Growth, Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Early Growth stages in the U.S. and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.

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Star Vision partners with global private equity firm CVC

CVC Capital Partners

A Partnership Deal to Accelerate Global Expansion

Star Vision, the operator of Korea’s leading colour contact lens brand OLENS, has forged a strategic partnership with leading global private markets manager CVC.

This bilateral deal was recently signed, where the existing investors PS Alliance and Pearl Investment have agreed to sell their entire 49% stake in Star Vision to CVC. The transaction values the company in the upper KRW 600 billion range. PS Alliance and Pearl Investment had initially purchased their stake from VIG Partners in June 2022.

Star Vision has demonstrated consistent growth both in Korea and overseas. In Korea, the company prioritizes sustainable growth by providing robust support for its franchisees instead of merely increasing the number of stores. This approach has fostered strong and sustainable relationships with franchise owners over the past 14 years, a strategy that will continue to solidify the company’s leading position in Korea.

Star Vision has also maintained strong growth in the overseas markets, entering the Japanese market in late 2022 and OLENS quickly becoming one of the top selling brands. The company operates over 400 outlets across Asia, including approximately 20 locations each in Hong Kong and Taiwan.

Star Vision chose CVC as the most suitable partner to support the company’s continued growth, expansion in the global market, and evolution into a leading global K-beauty and K-contact lens brand.

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Ratos consolidates construction operations in new company – Sentia

Ratos

Sentia marks the creation of a leading Nordic construction group with a focus on projects with the public sector and major private sector customers. Sentia includes the subsidiaries HENT, with operations in Norway, and SSEA Group, with operations in Sweden.

The consolidation will create better conditions for sharing expertise and collaborating on large, complex projects in Norway and Sweden, enabling the subsidiaries to develop and become more competitive.

“Basically, the two companies have performed well and proved their strength, and now they will have an even better foundation. HENT and SSEA Group already collaborate, and we have seen clear synergies – not least in terms of sales. The consolidation is a natural next step to create an even stronger platform to drive growth, while maintaining good profitability. Together, the companies will have a greater impact on the Nordic construction market,” says Jonas Wiström, President and CEO of Ratos.

“Both subsidiaries will become stronger by sharing their experience, particularly in project development and collaboration/partnering. We will have a larger network of customers, a broader market platform, a larger supplier network and greater flexibility in terms of expertise and resources. Sentia will prioritise responsible growth, with a focus on safety and sustainability,” says Jan Jahren, President and CEO of HENT and Sentia.

“We share a corporate culture centered on being a team player, having short decision paths, engaging in continuous learning and having a strong desire to deliver results. The best testament to the value we can create together is the successful projects we have already collaborated on, such as Sara Kulturhus in Skellefteå, Kunskapsstaden in Kiruna and Ersta Hospital in Stockholm. All of these were large, complex projects and were handed over to very satisfied customers. Through Sentia, we will be able to deliver more successful projects and become more competitive in major tenders,” says Christian Wieland, CEO of SSEA Group and Vice President of Sentia.

HENT and SSEA Group are continuing to operate under their own brands in Norway and Sweden, but as subsidiaries of Sentia. Jan Jahren remains the head of the subsidiary HENT and is also President and CEO of Sentia, while Christian Wieland is continuing to lead the subsidiary SSEA Group (including SSEA, Vestia and Kiruna Målbygg) and serves as Vice President of Sentia.

About Sentia
The consolidation of HENT and SSEA Group, under the now joint parent company Sentia, took place in December 2024. While the subsidiaries operate locally under decentralised structures in Norway and Sweden, the consolidation will create a stronger platform for growth with robust profitability. By combining the strengths of both companies, they will be better positioned to secure more large, complex projects in a broader Nordic market.

HENT had sales of NOK 9.5 billion 2023 and approximately1,270 employees. The company has its registered office in Trondheim, but operates across Norway and has around ten active billion-krone projects. Examples of projects include Norway’s largest university building (the new life sciences building at Oslo University), two blocks in the new government district in Oslo, parts of the Fornebubanen, the Norwegian Ocean Technology Center, and six ongoing hospital projects. HENT is also building Aker’s new head office in Stavanger, which will be Norway’s largest office building. HENT’s customers include a mix of the largest public and private sector developers in Norway.

SSEA Group had sales of SEK 2 billion 2023 and approximately 150 employees. The company has its registered office in Gothenburg, but operates across Sweden. Examples of ongoing and completed projects include Ängelholm City Hall, and Foajén, one of Malmö’s most impressive office buildings, as well as several renovation projects at Landvetter Airport. SSEA Group’s main strengths involve the construction of public sector buildings, such as schools and other types of premises intended for public activities. SSEA Group also builds high security facilities. The company – whose regular customer surveys show a very high level of customer satisfaction – primarily serves the public sector and also has repeat business from major private sector developers.
www.sentiagruppen.com

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 15 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Lonsec Endorses Coller Capital as a Trusted Leader in Private Equity Secondaries

Coller Capital

January 22, 2025 – Coller Capital, a global pioneer in private equity secondaries, has been awarded a ‘Recommended’ rating for its Private Equity Secondaries Fund by Lonsec, a leading Australian investment research and ratings firm.

This recognition reinforces Coller Capital’s commitment to delivering innovative and tailored solutions for Australian investors, enabling greater access to global private markets.

Unlocking liquidity and growth for Australian investors

As private equity secondaries continue to gain traction in Australia, the Fund is designed to meet the specific needs of high-net-worth investors, offering monthly liquidity and institutional-grade portfolio construction.

“This recognition by Lonsec is a testament to Coller’s innovation and leadership in secondaries,” added Jake Elmhirst, Global Head of Private Wealth Secondaries Solutions at Coller Capital. “Our Fund provides Australian investors with a unique combination of growth potential, diversification, and liquidity – all key attributes for navigating today’s market environment.

“We believe that we are leading the way in redefining private equity access for the Australian wealth sector, delivering solutions that align with investor goals and our firm’s commitment to excellence,” concluded Elmhirst.

Strengthening leadership in private equity secondaries

Private equity firms take equity stakes in private, unlisted companies; these stakes are ‘primary’ investments, and ‘secondary’ transactions are when they are traded. Secondary transactions offer the initial investors the opportunity to exit positions early, providing much-needed liquidity or capital flexibility.

The Lonsec rating highlights the strength of Coller Capital’s dedicated secondaries investment approach, supported by more than three decades of expertise and a global presence across nine offices.

The Private Equity Secondaries Fund offers Australian investors a pathway to enhanced portfolio diversification and attractive risk-adjusted returns.

Combining limited partner (LP)-led transactions with general partner (GP)-led opportunities, the Fund’s structure reflects the evolution of the secondaries market, addressing investor demand for liquidity without compromising on performance potential.

Backed by Coller Capital’s proprietary sourcing network and rigorous underwriting processes, the Fund delivered exposure to 430 underlying companies, diversified across industries and geographies.

“Lonsec’s endorsement underscores the strength of our approach in delivering high-performing private equity strategies tailored to Australian investors,” said David Hallifax, Head of Australia and New Zealand Private Wealth Distribution at Coller Capital.

“By addressing barriers such as liquidity and accessibility,  we believe we are setting a new benchmark for private wealth clients in this region.”

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Inflexion makes strategic minority investment in Baker Tilly Netherlands

Inflexion

Inflexion, a leading European mid-market private equity firm, is pleased to announce that it has agreed a minority investment in Baker Tilly Netherlands, a leading accountancy and advisory firm. The investment is being made by Partnership Capital III, Inflexion’s dedicated minority fund.

Baker Tilly Netherlands is an independent member of Baker Tilly International, one of the 10 largest accountancy and consultancy networks in the world. The Baker Tilly network provides advice and support across tax, advisory, assurance and legal in 141 countries. Inflexion will make a minority investment into Baker Tilly Netherlands to support its growth plans in the region.

Baker Tilly Netherlands has seen significant organic growth, and has an ambitious strategy to consolidate the fragmented local market and grow further through acquisition. The business also plans to expand its services and scale its business model, allowing clients to continue to receive a high-quality service and benefit from investment in quality, product innovation and digitalisation.

Inflexion will use its experience in growing businesses acquisitively, alongside its deep sector expertise, to support the management team to achieve their goals. In the last few years, Inflexion has made a number of investments in the professional services sector, including accountancy and taxation service provider TC Group, health and safety management consultant dss+, legal services firm DWF, governance, risk and compliance services and software provider GRC.

The management team at Baker Tilly Netherlands has a clear and ambitious vision for the future of their business. We are pleased how the unique flexibility of our minority strategy has allowed us to structure a partnership that enables Baker Tilly to benefit from the value-add of a strategic investor, whilst keeping control within the partner group.

David Whileman, Head of Partnership Capital, Inflexion

We are delighted to be able to bring our regional and sector expertise together to support this investment into Baker Tilly. The accountancy sector is seeing significant consolidation and we believe that Baker Tilly is well placed to take advantage of this opportunity. We look forward to supporting the team as they continue to grow the business.

Sander Ruijter, Head of Benelux, Inflexion

We believe that Inflexion is the ideal partner to support our future ambitions. They will support our growth and development not only with capital but also with highly relevant expertise and strategic support. Our partnership with Inflexion will enable us to accelerate our growth as an independent company and through acquisition.

Ronald Hoeksel, CEO, Baker Tilly

The transaction will be submitted to the Netherlands Authority for Consumers and Markets. Baker Tilly is also still in consultation with the Dutch Financial Markets Authority and will seek advice from its Works Council.

Contact

Sarah Gestetner

Partner

T. +44 (0)20 7487 9820

E. sarah.gestetner@inflexion.com

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3i invests in OMS Prüfservice, a tech-enabled service provider for testing electrical systems and equipment

3I

3i Group plc (“3i”) today announces it has agreed to invest in OMS Prüfservice (“OMS”), the largest specialised service provider in testing electrical systems and equipment for B2B customers in the DACH region.

OMS provides electrical testing and certification services for B2B customers, an attractive end-market underserved by generalist providers that focus on larger enterprise customers. OMS has a fully-tailored, proprietary software platform, INSPEKTRA. This enables OMS to digitalise and automate its testing processes, maximising efficiency and allowing OMS to optimise its services down to an individual customer level.

OMS operates from 43 locations across Germany, Austria and Switzerland. This strong local presence, combined with its technology-driven processes, allows OMS to deliver high-quality services with unparalleled customer proximity.

OMS’s market-leading operations, widespread branch network and data-driven processes have generated a c.30% sales CAGR since 2019. The company is well positioned for future growth due to its geographic footprint, the increasing digitalisation of workplaces and increased outsourcing due to the demand for skilled technicians.

3i is investing to drive further growth in OMS’s core business while exploring new opportunities, such as testing electric vehicle charging infrastructure and photovoltaic installations.

Micha Erz, CEO, OMS Prüfservice, said: “We are very pleased to be partnering with 3i. It has a strong track-record of scaling high-growth, international companies and its experience in the testing, inspection and certification sector will be invaluable. With its support, we look forward to broadening our service portfolio to deliver even greater value to our customers and to address evolving needs in areas such as e-mobility. In addition, this partnership will enable us to achieve sustainable growth, create exciting opportunities for our employees and foster a strong, innovative and collaborative workplace culture.”

Peter Wirtz, Head of Private Equity, 3i, said: “As a value-added, tech-enabled outsourced service provider, OMS sits at the core of our Services and Software strategy. OMS combines an extensive footprint, best-in-class operations and a unique software platform to create a market-leading offering. We have been following their success for some time and are looking forward to partnering with Micha Erz and the team to capture the significant opportunities which lie ahead.”

 

-Ends-

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For further information, contact:

3i Group plc

Kathryn van der Kroft
Media enquiries

Silvia Santoro
Shareholder enquiries

  

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

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Kraaft – Why We Invested

Dawn

Construction is synonymous with low profitability – but at enormous scale. Worth $13 trillion globally in 2023 representing 7 percent of global gross output¹, the sector has seen productivity stagnate for decades with single digit profit margins permitting only modest investment in digitisation.  Companies typically invest 1 to 2 percent of their revenue in IT, compared with the 3 to 5 percent average across other industries². This has perpetuated the cycle of stagnation, but also presents an opportunity to transform the sector. A huge amount of value would be created with any innovation that delivers even a modest improvement in either revenue or operating costs – let alone one that could address both….

Enter Kraaft, which quickly and easily improves operations and helps construction companies make more money.

Founded by Thomas Reygagne (CEO), Marc Nègre (CPO) and Cédric Boidin (CTO) in Paris in 2020, Kraaft offers a one-stop mobile “super app” for managing construction projects. It solves the everyday problems with managing construction projects that eat away at profit margins: communication issues between HQ and site; safety hazards; complexity; lack of needed information; and lack of recording of change orders that can drive important additional revenue.

Kraaft centralises construction site activity with real-time group conversations, and features interactive project management tools for planning, photo geo-tagging, safety checks, and AI-powered workflows. With Kraaft, the head office knows exactly what is going on with projects on-site in real time, and has clear records thanks to easy report-generation and filing. Site managers automatically have their daily logs captured rather than having to re-key paper checklists or work through WhatsApps when they get home. And the tool allows firms to quickly prove they are hitting health and safety requirements and secure contracts – a key issue in the UK, one of Kraaft’s new markets. Finally, the tool allows for easy tracking and approval for change orders, avoiding disputes and delivering incremental revenue.

In short, Kraaft helps construction companies make more money. 

Construction is powered by people, so success in construction tech means success in making working lives easier. So it is crucial to the company’s success that as well as enhancing profit margins from day one, Kraaft is inexpensive to implement and construction workers actually like using the platform.

Kraaft is as accessible and easy to use as WhatsApp; it requires no user training and has already seen a very organic adoption on construction sites across Europe. It genuinely makes workers’ jobs smoother and brings joy in doing so: people have been using Kraaft for team-building as well as work purposes. Construction teams now use Kraaft to share beautiful mountain views from remote sites, celebrate birthdays, and organise after-work drinks. There are countless great, human stories with this product (not even including us on the deal team, sharing pictures from our Eurostar through to Paris for lunch with the Kraaft founders!)

This is just the beginning for Kraaft and its brilliant founding team.

Together, Thomas, Marc, and Cédric deliver tireless execution, empathic and successful customer acquisition, and the technological know-how to develop Kraaft even further and take it to the next level. They will use their Series A round to fund the development of new features – including API and Key Integrations to allow Kraaft to seamlessly connect with major US-based industry platforms like Procore – and accelerate growth across Europe, starting in the UK and Germany. Longer term, Kraaft plans to enter the US and Canadian markets. The company has already secured four North American clients without investing anything in marketing or promotion, and we are confident their success to date is just the start of a global journey.

We look forward to working alongside our friends Brick & Mortar, Chalfen Ventures, Stride VC and OSS Ventures as the Kraaft team takes on this enormous market, and urge everyone to look out for what is being Kraafted on the streets around you!

¹https://www.mckinsey.com/capabilities/operations/our-insights/delivering-on-construction-productivity-is-no-longer-optional
²“Gartner top strategic technology trends for 2022,” Gartner, October 2021.

 

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Coller Capital Expands Asia Pacific Presence with Singapore Office and Peter Wu joins Collers’s Private Wealth team

Coller Capital

Singapore, 21 January 2025 – Coller Capital, the world’s largest dedicated private market secondaries manager, has announced the establishment of its Singapore office, expanding the firm’s global footprint to serve its growing institutional and private wealth investor bases in Southeast Asia. Peter Wu, also joins the firm as Head of Product Management, Private Wealth, based in Singapore.

Jeremy Coller, Chief Investment Officer and Managing Partner of Coller Capital, commented: “The market for Asia Pacific private capital is rapidly maturing with rising market volumes, innovative transactions and a growing talent pool. Opening the Singapore office extends our commitment to the region and is another milestone in delivering our secondaries solutions to both institutional and private wealth investors in the Asia Pacific region.”

Coller Capital’s Singapore office is its fifth location in Asia Pacific alongside Hong Kong, Beijing, Seoul and Melbourne. Its Hong Kong office was opened in 2012 and serves as the firm’s hub for the region.

Peter Kim, Partner and Head of Asia and RMB, commented: “The Southeast Asian market presents significant opportunities for our business, with a growing appetite for secondaries among institutional LPs and private wealth investors. Our expansion into Singapore will allow us to meet this strong demand for investment solutions that offer enhanced liquidity, risk mitigation and diversification. We are delighted to welcome Peter to Coller Capital as his extensive experience in private wealth products will be invaluable.”

Mr Wu, who will be joined by two local investor relations colleagues, will work closely with Coller’s global Private Wealth Secondaries Solutions (PWSS) team to support the global expansion. Launched in 2023, PWSS provides private wealth investors access to the private equity and private credit secondaries market through a diversified, institutional-grade quality portfolio. In Singapore, Coller Capital will market funds to institutional and private wealth investors indirectly through licensed intermediaries such as private banks.

Mr Wu brings over 14 years of global industry experience and was previously the Global Head of Product Control at Partners Group, where he led product operations for private markets funds, with a focus on private wealth offerings. Prior to that, he spent seven years at BDO, managing audit and consulting engagements for global companies.

Coller Capital has offices in London, New York, Hong Kong, Beijing, Seoul, Luxembourg, Zurich, Melbourne, Montreal and Singapore. The firm has US$36 billion under management and 34 years of experience in the secondary private capital market.

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Bain Capital announces sale of co-living space in Spain to Greystar

BainCapital

  • Global Investment Manager adds circa 2,000 beds through transactions with Bain Capital to the Be Casa platform, representing €300m of Gross Asset Value.
  • Be Casa will now be available to customers in Barcelona and Bilbao with more new apartments added to well-established Madrid presence.

LONDON and MADRID – January 21, 2025 – Greystar, a global leader in the investment, development, and management of high-quality real state across the living sector, has expanded its flex living portfolio in Spain adding more apartments in Madrid and extending its Be Casa brand to customers in Barcelona and Bilbao.

Greystar has acquired three assets from Bain Capital, a leading global investment firm. The investment was made through Bain Capital’s Special Situations team in Europe and is part of the firm’s Spanish flexible living development strategy. The acquisition of the assets marks a significant milestone in the co-living Spanish market, showcasing Bain Capital’s pioneering efforts in this asset class. Be Casa has reinforced its position as the largest provider of flexible living in Spain with more than 4,800 fully furnished apartments (including pipeline).

The three BREEAM Outstanding new build assets are:

  • Alcobendas in Madrid with 888 beds, operational since July 2024 and demonstrating attractive rental growth.
  • Barakaldo in Bilbao with 639 beds, currently under construction and expected to be completed in March 2026.
  • Sant Cugat in Barcelona with 496 beds, also under construction and expected to be completed in July 2026.

Each building comprises studio, one, two and four-bedroom apartments with a range of resident amenities including co-working areas, restaurants, gym, pools, padel courts and large social areas enhancing the overall living experience.

Rafael Fernandez-Villaverde, Managing Director – Spain, Greystar, said: “Madrid, Bilbao and Barcelona are experiencing robust economic growth supported by thriving industry and a steadily increasing population. This has led to significant demand for high-quality rental solutions that offers short-, mid-, and longer-term options catering to the diverse needs of professionals, families, and international students. By pairing an already proven brand concept that is ready for expansion with Greystar’s global expertise, we are accelerating our growth in Spain while creating operational synergies that will deliver an even better living experience for residents.”

Rafael Coste Campos, a Partner at Bain Capital, commented: “The shortage of high-quality, affordable housing is a high conviction theme for the firm, one that we are poised to effectively address through our extensive research and local expertise. As demand for rental properties surges in gateway cities—areas that are persistently undersupplied—we see a significant opportunity to develop affordable, premium housing that surpasses conventional standards. These new developments will boast superior amenities and strong environmental credentials.”

David Cullen, a Partner at Bain Capital, added: “The collaboration between our deal and asset management teams, and the flexibility to create a specific capital solution, has been instrumental in delivering these important housing assets to the Spanish market.”

Launched in 2022 and owned by Greystar, Be Casa offers hybrid and accessible accommodation focused on the customer and their needs, bringing all the comforts of home with the convenience of a hotel. Be Casa currently provides a range of studio, one and two-bed apartments across three locations in Madrid totaling more than 2,500 fully -furnished apartments. Residents and guests can enjoy flexible stay options and adaptable living spaces, all with access to a wide range of modern amenities.
Advisors
Eastdil Secured and Cuatrecasas advised Bain Capital.
Jones Day, EY and CBRE advised Greystar as Legal, Financial and Tax advisors and technical advisors, respectively.

About Bain Capital
Bain Capital is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. For more information, visit www.baincapital.com

About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates nearly $315 billion of real estate in approximately 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. With a focus on doing things the right way, Greystar is driven by the vision of delivering world-class results with integrity. Greystar is the largest operator of apartments in the United States, manages over 1,000,000 units/beds globally, and has a robust institutional investment management platform comprised of over $78 billion of assets under management, including approximately $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com

Media Contacts

Europe

Jason Lobo

Bain Capital Private Equity

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