Category Archives: News

Report of the Extraordinary General Shareholders’ Meeting

GIMV
Corporate

Today Gimv held an Extraordinary General Meeting (EGM). With 39.27% of the shares represented (11,236,416 shares), the required attendance quorum was not reached. A new EGM will take place on January 13, 2025.

An EGM of Gimv that was convened on November 21, 2024 was held today to deliberate on a possible capital increase to support the acceleration of Gimv’s strategic growth and further maximize value creation.

With 11,236,416 shares or 39.27% of the capital present or represented, the required attendance quorum of 50% of the capital was not reached.

A second EGM will take place on Monday, January 13, 2025 with the same agenda and will be able to validly deliberate and resolve regardless of the number of shares present or represented.

Today Gimv published the convening notice for this second EGM on its website:

https://www.gimv.com/en/investors/shareholder-meetings

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Altor divests Nordic Tyre Group to Axcel

Altor Fund IV(“Altor”) have signed an agreement to divest Nordic Tyre Group (“NTG”), the leading independent tyre wholesaler across the Nordics and Baltics, to Axcel Fund VII (“Axcel”).

In 2019, Altor entered a partnership with the founders of Gummigrossen and Rengasduo with the joint ambition to build a Nordic leader within the tyre wholesaler industry. Today, Nordic Tyre Group is the largest independent tyre wholesaler across the Nordics and Baltics with a diversified group of more than 10 000 customers and long-standing relations with 200 suppliers. The company is built on a proprietary technology platform providing a unique competitive advantage.

“Altor established Nordic Tyre Group with the ambition to build the leading tyre wholesaler across the Nordics and Baltics and they have worked with an entrepreneurial mindset to support the management team to realize that mission. It has been an incredible journey and our achievements have been a result of teamwork and a shared vision. Now, our sights are set on European roads together with Axcel” said Patrick Bergander, CEO of Nordic Tyre Group.

“Nordic Tyre Group has grown from a tech-enabled challenger in Sweden to become the leading independent tyre wholesaler across the Nordics and Baltics. We are truly impressed by the achievements of the management team and employees and we are proud to have been part of this journey. We look forward to seeing the company continue its growth journey together with Axcel” said Stian Tuv, Principal at Altor.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Wrist Ship Supply, Trioworld, Eleda, OX2 and Nordic Climate Group.

About Nordic Tyre Group

Nordic Tyre Group is the leading independent tyre distributor across the Nordic and Baltic markets. The company was founded in 2019 through the merger of two leading tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland. Since then, the Group has expanded to Norway and the Baltics through acquisitions of Starco, Gummi-Centralen, Dekkteam, Dekk1 and Latakko, and is today present across six markets.

About Axcel

Founded in the Nordics in 1994, Axcel is a leading private equity group investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer.  Our team across Copenhagen, Stockholm and Frankfurt draws on 30 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. We currently own 19 companies and have made a total of 72 platform investments, over 375 add-on acquisitions and 53 exits.

For more information, visit www.axcel.com.

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Ratos adopts new sustainability targets and joins Science Based Targets initiative

Ratos

Sustainability has been integrated into Ratos’s business strategy for many years. Ratos is now strengthening its ambitions by introducing new sustainability targets and joining the Science Based Targets initiative (SBTi).

The new sustainability targets stipulate Ratos’s contribution to two of the 17 UN Sustainable Development Goals (SDGs) of the 2030 Agenda – Goal 13: Climate Action and Goal 5: Gender Equality.

For its climate targets, Ratos has set both short-term (by 2030) and long-term (by 2050) targets for reducing carbon dioxide emissions. These Group-wide targets encompass 15 of 16 subsidiaries*. Ratos will communicate more details about its emission reduction targets once they have been submitted to and validated by the SBTi. The targets will be submitted during Q1 2025.

For its gender equality target, Ratos aims to have a 40/60 distribution of women and men in senior positions by 2030. Senior positions refer to the Board members of Ratos AB and 15 of its 16 subsidiaries* and well as the management groups of Ratos AB and the same 15 of 16 subsidiaries.

“We are now setting ambitious, science-based targets to reduce our carbon footprint, while also promoting gender equality throughout our organisation by establishing a target for the share of women and men in senior positions. We need to work more strategically to reach the entire talent pool when we recruit new employees and ensure that our sustainability targets are in line with the Paris Agreement. Sustainability isn’t just a responsibility, it’s an important driver of long-term profitability, ensuring that our operations continue to generate returns,” says Josefine Uppling, Vice President Communication & Sustainability, Ratos.

For more information, please contact:
Josefine Uppling, Vice President Communication & Sustainability, Ratos, +46 76 114 54 21

*Aibel is excluded since it is considered an associate of the Ratos Group.

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 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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Truesec Acquires Foresights, a Specialist in Cyber Security Advisory and Intelligence

IK Partners

Stockholm, December 20, 2024

Picture from left to right: Rolf Rosenvinge, CEO Foresights; Anna Averud, CEO Truesec Group; Marcus Murray, Founder Truesec.

Truesec announces the acquisition of Foresights, a company specializing in cyber advisory and intelligence.

The combination of Truesec and Foresights will provide decision-makers and organizations with unique insights and tools to manage business risks.

35% of European enterprises will have dedicated budgets for cyber risk mitigation for the first time this year. This trend is driven by increased cyber threats and the need to protect against revenue loss, operational disruption, and reputational damage caused by these threats

Organizations are facing rapidly increased risks due to the current geopolitical landscape, digitization, and maturing cyber threats.

Decision makers are in urgent need of efficient solutions to navigate and mitigate cyber risks. The acquisition of Foresights is a key component in Truesec’s strategy to provide sustainability and resilience to organizations.

Foresights has an impressive track record and unique expertise in the industry. Together, Truesec and Foresights will provide unparalleled insights, advisory, and intelligence to the market.

“The market is seeking executive advisory and intelligence solutions within cyber. Everyone deserves maximum value for their cyber investments. We are very pleased to welcome Foresights to Truesec,” says Anna Averud, CEO Truesec Group.

Foresights’ founder and CEO, Rolf Rosenvinge, adds, “By becoming part of Truesec, we can combine our strategic insights and understanding of business risk with Truesec’s deep technical expertise and extensive knowledge of the cyber threat landscape. This mix will give our customers a true advantage against adversaries”.

The acquisition means that Foresights employees will be integrated into Truesec’s organization, and collaboration between the two companies will begin immediately.

Contacts

Anna Averud
CEO, Truesec Group
Email: anna.averud@truesec.com
Phone: +46-70 918 30 48

Jennie Mattar
CMO, Truesec Group
Email: jennie.mattar@truesec.com
Phone: +46-72 858 88 78

About Truesec

Truesec is an international cybersecurity company that offers market-leading managed services, incident management, and expert consulting services. Truesec operates the largest Security Operations Center (SOC) in the Nordics and has conducted over 35,000 hours of incident management in the past year. The company’s goal is to Prevent Breach and minimize impact. Since 2005, Truesec has delivered advanced security solutions to clients in both the private and public sectors worldwide. Today, the company comprises over 330 cyber specialists with deep expertise and a leading role in cybersecurity in the Nordics. For more information, visit Truesec.com.

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IK Partners to sell Mecenat to Inflexion

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap II (“IK SC II”) Fund has signed an agreement to sell its stake in Mecenat Group AB (“Mecenat” or “the Group”), a leading marketing and brand awareness platform, to Inflexion. Financial terms of the transaction are not disclosed.

Founded in 1998 and headquartered in Gothenburg, Sweden, Mecenat is a digital marketing platform which connects students, young professionals/alumni and seniors with well-known brands by providing access to exclusive offerings, career services and relevant events. Operating across five main business areas in Sweden and Finland, the Group takes pride in connecting almost three million members with more than 700 local and global brands, creating synergetic exchanges in the areas of brand building, unique discount offerings and marketing. Mecenat’s platform spans diverse industries, including Technology, Fashion, Travel and Entertainment and includes key partners such as Apple, Zalando, Hotels.com and Viaplay.

Mecenat’s services are primarily digital, allowing for a two-way exchange between brands and members through its app and website. In recent years, the Group has expanded through the acquisitions of Seniordays in 2021, Frank Students in 2022, and Traineeguiden in 2023. The development of the platform in this way has enabled Mecenat to leverage a unique member acquisition approach which sees students entering organically before automatically progressing to alumni, while retaining members throughout their life by leveraging the top-of-mind habit developed when they were students.

Since IK first invested in the business in September 2021, Mecenat has more than doubled its revenue, proving its resilience in the face of challenging global economic conditions. The Group has also: expanded its product offering to attract a more diverse range of members, including alumni and seniors; achieved meaningful geographic expansion beyond the Swedish market; delivered significant technological developments; and executed strategic acquisitions to support the expansion of the product range.

Jonas Odéhn, CEO of Mecenat Group, said: “We would like to thank IK for their support during the past three years. This period has seen Mecenat develop into an even stronger business thanks to the hard work and dedication of our employees. The Group has experienced tremendous growth and transformed into a leading marketing technology and brand awareness platform with a unique business model and digital-first approach to fostering brand loyalty. With this solid foundation in place, we look forward to the next chapter which will see us partner with the team at Inflexion.”

Carl Jakobsson, Partner at IK Partners and Advisor to the IK SC II Fund, added: “Since investing in Mecenat in 2021, we have been extremely impressed with the professionalism and expertise displayed by Jonas and his team. During our partnership with them, the Group has gone from strength-to-strength, nearly doubling its member base and pursuing geographic expansion through a range of value creation initiatives. We wish Jonas, his team and Inflexion the very best of luck for the next stage in Mecenat’s growth journey.”

For further questions, please contact:

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

 

About Mecenat Group

Mecenat Group is a marketing and brand awareness platform that connects students, young professionals/alumni and seniors in Sweden and Finland with well-known brands. Mecenat offers unique discounts to its members through its platform, and partners with brands such as Apple, Microsoft, HP, Adidas, H&M, and Hotels.com. For more information, visit mecenat.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Stonepeak Acquires 2.3 Million Square Foot Logistics Portfolio in Houston, Texas

Stonepeak

NEW YORK, NY – December 19, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of six logistics assets totaling 2.3 million square feet in Houston, Texas.

The assets are strategically located less than 8 miles from Port Houston, which lifts 3.8 million TEUs annually and is the fifth-largest container port in the United States. Port Houston is investing $1.7 billion over the next five years to modernize and expand its existing facilities. Houston’s transport infrastructure is further supported by an extensive rail network anchored by Union Pacific, BNSF, and CPKC. Houston has seen positive demographic trends, with a population of 7.5 million that has grown three times the national average since 2014 and trailing 12-month job growth of 2.3% compared to the national average of 1.6%.

“We are thrilled to add these high-quality assets to our port logistics platform, which has grown rapidly over the past year,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “We continue to believe in the power of supply chain real estate anchored by essential port infrastructure, given its mission-critical role in local and national supply chains, and we are excited to continue investing behind this theme.”

To date in 2024, Stonepeak has acquired 20 logistics assets totaling 7 million square feet. Most recently, Stonepeak acquired a 1.8 million square foot logistics portfolio located near the Port of Jacksonville, Florida. Earlier this year, Stonepeak acquired a 1.1 million square foot logistics portfolio located in the Alliance submarket of Dallas-Fort Worth, Texas and a 1.7 million square foot logistics portfolio located adjacent to the BNSF and Union Pacific intermodal terminals in Chicago, Illinois.

Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team invests in high conviction sectors including supply chain, residential, healthcare, and technology real estate. With the benefit of the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.

Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial advisor to Stonepeak.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

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Remodel Health Raises More Than $100 Million to Continue Expansion in ICHRA Market

Oak HC FT

Remodel Health, the #1 Individual Coverage Health Reimbursement Arrangement (ICHRA) provider for brokers, today announced it has raised more than $100 million from Oak HC/FT and Hercules Capital, Inc. (NYSE: HTGC) in growth funding.

Remodel offers an end-to-end, white-labeled tech platform that supports employers and employees with everything they need tolaunch and access their ICHRA plans, including plan creation andadministration, call center support, automated quoting, employee onboarding, HRIS integrations and payments with carriers and access to ancillary products. Starting with the group to individual health insurance shift in 2015, Remodel has become a dominant player in the ICHRA space, bolstered by the acquisition of PeopleKeep in early 2024. Together, the two companies are uniquely positioned to serve small, medium and large employers, with a suite of products across ICHRA and QSEHRA. With this investment from Oak HC/FT and Hercules Capital, Remodel will look to continue its national expansion.

Remodel stands apart from the competitive set with its meaningful scale and a go-to-market motion defined by its white-glove service, deep broker relationships and easy-to-understand approach to marketing and sales. Importantly, as employer health insurance premiums continue to increase, ICHRA provides Remodel’s customers with predictable annual benefits costs, driving stability and an average of 30% savings for the office of the CFO. Over the past 12 months, Remodel has focused more on partnering with insurance brokers and agencies tosupport its ICHRA expansion across the U.S. As a result, the Remodel business grew 11x YoY in broker-led ICHRA bookings and this will be a key area of growthand expansion for the business moving forward.

“We are on a mission to resource organizations with missions that matter, partnering with employers and their brokers to do so. Remodel Co-Founders Justin Clements and Scott Lingle and I started trailblazingin 2015, and PeopleKeep founder Paul Zane Pilzer identified this shift likepension to 401(k) in the early 2000’s,” said Austin Lehman, CEO of Remodel Health. “We are now seeing it begin to come to fruition. The Oak team have been great dreamers with us and have great connections in the insurance payer space to accelerate growth and help increase access to medical care and resource organizations with missions that matter.”

ICHRA was created in 2020 as a flexible alternative to traditional group health insurance, offering choices around contribution levels to employers and more personalized options around benefits for employees. Similar to a 401K, employers of any size can provide an allowance of pre-taxdollars to their employees. This is used by employees for the purchase of someor all of their healthcare premiums for insurance bought on the ACA exchanges. It offers an exciting cost-savings proposition for employers, particularly small and mid-size ones, who want to offer health insurance to their teams, by allowing them to move their employees to state risk pools to help offset costs, instead of trying to level-fund or self-insure.

“We have been looking at the ICHRA space for a few years now, waiting for a stand out company with the combination of hyper-scaling potential, an ambitious go-to-market strategy and focused dedication from the leadership team,” said Andrew Adams, Co-Founder and Managing Partner, Oak HC/FT. “We are honored that the Remodel team chose to partner with us and cannot wait to support them in their efforts to build out the ICHRA market for employers and brokers across the U.S.”

Since its launch, the ICHRA market has been steadily increasing and is projected to 10X by 2032.According to the HRA Council, ICHRAadoption increased 29% from 2023 to 2024, with Applicable Large Employersgrowing at the highest rate – of 84%. Remodel’s approach to distribution and plan partnership best positions them to take advantage of this growth, now and in the future.

About Remodel Health

Remodel Health isthe expert guide for employers and brokers navigating the complexities oftransitioning to ICHRA. With nearly a decade of experience in the individualhealth benefits space, our proprietary software and licensed health benefits experts deliver tailored solutions for businesses with 100 to 10,000 employees. Committed to best-in-class customer service, we provide hands-on support throughout the process, ensuring successful implementation and long-term success. Learn more about how we transform health benefits at remodelhealth.com.

About PeopleKeep

PeopleKeep specializes in helping small and midsize businesses offer affordable, flexible health benefits through the ICHRA and qualified small employer HRA (QSEHRA). By focusing on expanding access to coverage for employees often overlooked by traditional employer-sponsored plans due to cost and complexity, PeopleKeep empowers small employers to thrive. With easy-to-use software, automated compliance, and a seamless employee experience, PeopleKeep is committed tosimplifying benefits administration and making health coverage more accessible.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firmspecializing in investments in fintech and healthcare. Using partnership as afoundation, Oak HC/FT guides companies and founders at every stage, from seedto growth, to create businesses that make a measurable and lasting impact.Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and hasover $5.3 billion in assets under management. Oak HC/FT is headquartered inStamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venturegrowth loans to high-growth, innovative venture capital-backed companies in abroad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $21 billion to over 660companies and is the lender of choice for entrepreneurs and venture capitalfirms seeking growth capital financing. Companies interested in learning moreabout financing opportunities should contact info@htgc.com.

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Eurobio Scientific: EB Development obtains a significant majority of the capital with 88.9% held at the end of the Reopened Offer to continue its development with NextStage AM and IK Partners

IK Partners

Paris, 19 December 2024

Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible) and EB Development announce the final outcome of the takeover bid initiated by EB Development (the “Offer“), based on the results published on 18 December by the Autorité des marchés financiers (AMF) at the end of the reopening period of the Offer (the “Reopened Offer“).

644,911 ordinary shares were tendered to the Reopened Offer, which closed on 17 December 2024. These are in addition to the 4,582,971 ordinary shares tendered to the Initial Offer, giving a total of 5,227,882 ordinary shares tendered to the Offer, enabling EB Development, acting in conjunction with funds managed by NextStage AM and IK Partners, and Mr. Denis Fortier, Chairman and CEO, and other members of the Board of Directors and senior management of the Company ,[1] to hold, after assimilation of the treasury shares held by Eurobio Scientific (the “Company“), 9,113,592 shares representing 88.92% of the share capital and voting rights of the Company.

As the percentage of share capital and voting rights attained following the Reopened Offer is below the 90% threshold allowing the implementation of a squeeze-out procedure, the additional price of €1.25 per share will not be paid. Settlement and delivery will take place on 23 December 2024.

Denis Fortier, Chairman and CEO of Eurobio Scientific, said: “The results of the takeover bid give Eurobio Scientific the means to accelerate its development with the support of NextStage and now IK Partners, active shareholders who share our strategy and have a good knowledge of our in vitro diagnostics and intelligent health markets. We would like to thank our shareholders for their confidence and support in making this transaction a success.”

NextStage AM acquired a stake in Eurobio Scientific on 18 May 2022 through the creation of a joint holding company with the entrepreneurs called “EurobioNext”. NextStage AM invested in the company through the “Pépites et Territoires” programme by AXA France & NextStage AM and its NextStage EverGreen vehicle.  NextStage AM has supported Eurobio Scientific in structuring its management team and accelerating its external growth strategy, in particular, through significant M&A transactions (including the acquisition of the Dutch company GenDx, one of the world leaders in HLA typing for transplant compatibility, in August 2022).[2]

NextStage AM and IK Partners, as core shareholders, will continue to support the group’s team of entrepreneurs in this new stage of the Company’s growth.

Grégoire Sentilhes, Chairman and co-founder of NextStage AM, commented: “Since May 2022, the team of entrepreneurs led by Denis Fortier has accelerated the transformation of the group post-Covid, in particular through the acquisition of GenDx, by strengthening the part of its business dedicated to proprietary products. We are delighted to be pursuing the development of Eurobio Scientific, which has the potential to become a leading SME in its market, alongside IK Partners, a leading investor who shares our vision and entrepreneurial values.”

Rémi Buttiaux, Managing Partner at IK Partners, added: “Eurobio Scientific has established itself as a market leader in the field of in vitro diagnostics and we are looking forward to working closely with the management team, NextStage AM and other stakeholders to support this next phase of development for the business.”

Warning:

This press release has been prepared for information purposes only. It does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Eurobio Scientific S.A. or an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Eurobio Scientific S.A. The release, publication or distribution of this press release may be restricted by law in certain jurisdictions and, accordingly, persons in possession of this press release in such jurisdictions should inform themselves of and observe any applicable legal restrictions. Investors and shareholders in France are strongly advised to read the Offer documents referred to in this announcement as they contain important information about the proposed transaction and other related matters. EB Development’s offer document and “other information” document are available on the websites of the AMF (www.amf-france.org) and Eurobio Scientific S.A. (www.eurobio-scientific.com) and may be obtained free of charge on request from EB Development (43, avenue de Friedland, 75008 Paris, Crédit Industriel et Commercial (6, avenue de Provence, 75009 Paris) and Degroof Petercam Wealth Management (44, rue de Lisbonne, 75008 Paris). Eurobio Scientific’s note in response and “other information” document are available on the AMF (www.amf-france.org) and Eurobio Scientific S.A. (www.eurobio-scientific.com) websites and may be obtained free of charge on request from Eurobio Scientific S.A. (7, avenue de Scandinavie, ZA de Courtaboeuf, 91953 Les Ulis). Neither Eurobio Scientific S.A., EB Development, nor their respective shareholders, advisers or representatives accept any liability whatsoever in connection with the use by any person of this press release or its contents, or more generally in connection with this press release.

[1] Denis Fortier (Chairman and Chief Executive Officer), Cathie Marsais (Chief Operating Officer), Olivier Bosc (Chief Operating Officer), Jean-Michel Carle-Grandmougin (Chief Operating Officer and member of the Board of Directors) and Hervé Duchesne de Lamotte (member of the Board of Directors).

[2] https://nextstage-am.com/eurobio-scientific-participation-de-nextstage-am-annonce-la-signature-dun-accord-en-vue-dacquerir-gendx-leader-mondial-du-diagnostic-hla-aux-pays-bas/

For further questions, please contact:

Eurobio Scientific Group
Denis Fortier, Chairman and CEO
Olivier Bosc, Managing Director / CFO
Tel. +33 1 69 79 64 80

Calyptus
Mathieu Calleux
Investor Relations
Tel. +33 1 53 65 68 68
eurobio-scientific@calyptus.net

NextStage AM
Ghita Farage – gf@nextstage.com – +33 6 10 50 32 56

Shan
Laurence Tovi – laurence.tovi@shan.fr – +33 6 20 58 29 02 / Lola Gozlan – lola.gozlan@shan.fr – +33 6 24 76 83 40 / Clara Flore – clara.flore@shan.fr – +33 6 16 04 64 33

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

About Eurobio Scientific

Eurobio Scientific is a major player in the field of speciality in vitro diagnostics. It is involved in the research and marketing of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and offers dedicated reagents to research laboratories, including pharmaceutical and biotechnology companies. With its many partnerships and strong hospital presence, Eurobio Scientific has its own extensive distribution network and a portfolio of proprietary products. The Group has around 320 employees, four production units based in the Paris region, Germany, the Netherlands and the United States, and subsidiaries in Milan (Italy), Dorking (UK), Sissach (Switzerland), Bünde (Germany), Antwerp (Belgium) and Utrecht (Netherlands).

For more information, visit www.eurobio-scientific.com

Eurobio Scientific shares are listed on Euronext Growth Paris.
Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label.mnemonic: ALERS – ISIN Code: FR0013240934 – Reuters: ALERS.PA – Bloomberg: ALERS:FP

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About EB Development

EB Development is the initiator of the Offer and intends to bring together in its capital, directly or indirectly, funds managed by IK Partners and Eurobio Scientific’s reference shareholders, including Nextstage and the Company’s managers and directors.

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About NextStage AM

NextStage AM is an independent asset management company based in Paris and approved by the AMF. Since its inception in 2002, NextStage AM has cultivated an “entrepreneur-investor” philosophy and is one of the pioneers and specialists in innovative and patient growth capital in France. NextStage AM has developed, step by step, a multi-strategy private equity platform which, in terms of assets under management and advised, represents more than €8.7 billion as at 30 September 2024, both directly and indirectly. NextStage AM invests in a limited number of French and European innovative and growth SMEs and ETIs (81 companies in the portfolio on 30/09/2024), to which it provides entrepreneurial investor expertise and strong operational support to ensure their successful transformation. NextStage AM provides long-term support to SMEs and SMIs involved in intelligent healthcare, environmental and energy innovation and digital transformation. It provides them with the means to accelerate their development and their capacity for innovation in order to become the “Champions” of their markets, both in France and internationally, through organic and/or external growth. For more information, visit nextstage-am.com

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About IK Partners

IK Partners (“IK”) is a European private equity firm focusing on investments in the Benelux, DACH, France, the Nordic countries and the UK. Since 1989, IK has raised over €17 billion of capital and invested in more than 195 European companies. IK supports companies with strong underlying potential, working in partnership with management teams and investors to create strong, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.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

HG Capital

London, UK – December 18, 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 current 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 >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 International acted as financial advisors to Citation Group, Hg and KKR.

For further inquiries, please contact:

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

HarbourVest:
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.

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Blackstone Cements Position as a Leading Foreign Hotel Investor in Japan, Adds Three Hotels to Portfolio

Blackstone

TOKYO – December 19, 2024 – Blackstone (NYSE: BX) announced that Real Estate funds managed by Blackstone (“Blackstone”) have entered into definitive agreements to acquire three hotels in Osaka and Okinawa – Ritz Carlton Okinawa, Kise Beach Palace, and Nest Hotel Osaka. With these investments, Blackstone will have a sizeable $1.3 billion hotel portfolio in Japan, consisting of high-quality properties across some of the country’s top tourist destinations including Tokyo, Kyoto, Osaka, Okinawa, and Fukuoka, and cementing its position as one of the largest foreign hospitality investors in the market.

Daisuke Kitta, Head of Real Estate Japan, Blackstone, said: “We have been one of the most active investors in Japan hotels in the past three years, anchored by our high conviction in hospitality and leisure as an investment theme globally. Japan is experiencing strength in both inbound tourism and domestic travel, supported by its robust economic growth. We will apply our operational expertise and use the full breadth and depth of our global resources to support these hotels for long-term success.”

In the last three years, Blackstone has acquired or signed to buy nearly 20 hotels including an eight-hotel portfolio from Kintetsu Group Holdings.

Jeremy Bleackley, a Managing Director in Blackstone Real Estate, said: “We are pleased to expand our hotel portfolio in some of Japan’s most vibrant markets – Osaka and Okinawa. We’ll continue our work of building these properties into destinations for dining, leisure, and entertainment, and support the growth of these hotels and the local economies in Japan.”

The three hotels include Ritz Carlton Okinawa, a luxury resort surrounded by an 18-hole championship course overlooking the ocean; the Kise Beach Palace, a beach-front resort; and Nest Hotel Osaka, which sits within 5-minute walking distance to Osaka’s center of retail and entertainment district.

Japan’s tourism industry achieved a new record this year, with foreign visitor spending from January to September reaching JPY 5.8 trillion, surpassing last year’s full-year record. In July, the number of international visitors reached a record-high of nearly 3.3 million for a single month, increasing by more than 10% compared to the same month in 2019. The Japan Tourism Agency expects this trend to continue, with the number of visitors for 2024 expected to hit a record of 35 million.
 
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Media Contact
Mariko Sanchanta
mariko.sanchanta@blackstone.com
+852 9012 5314

Kekst CNC
blackstone@kekstcnc.com
090-3239-9348

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