Zydus enters exclusive negotiations with PAI Partners and other shareholders to acquire a majority stake in Amplitude Surgical

admin March 7, 2025 No Comments

Completion of the transaction to be followed by mandatory simplified tender offer

Zydus has entered into exclusive negotiations to acquire a controlling shareholding in Amplitude Surgical, France, at a price of €6.25 per Amplitude Surgical share.
Purchase consideration amounts to €256.8mn for 85.6% of the outstanding shares and voting rights of Amplitude Surgical ¹.
Subject to closing of the controlling block acquisition, Zydus would file a mandatory simplified cash tender offer for all the remaining shares in Amplitude Surgical, at the same purchase price of €6.25 per Amplitude Surgical share. If the conditions are met at the end of the tender offer, Zydus intends to proceed with a compulsory acquisition of the remaining shares from the minority shareholders (squeeze-out) and to delist the Company.

Ahmedabad, Gujarat (India), Valence (France), March 11, 2025

Zydus Lifesciences Limited ² (“Zydus”), a global innovation-driven lifesciences company has entered into exclusive negotiations to purchase ³from PAI Partners and Amplitude Surgical’s management, as well as two minority shareholders ³, 85.6% of the share capital of Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible) (“Amplitude Surgical” or the “Company”), at a price of €6.25 per Amplitude Surgical share (the “Block Acquisition”). The acquisition price represents a 80.6% premium over the last closing price as on 10/03/2025 and premia of 88.2% and 92.2% over the 3-month and 6-month volume-weighted average price of Amplitude Surgical respectively.

Amplitude Surgical is a European MedTech leader in high-quality, lower-limb orthopaedic technologies. The Company provides numerous value-added innovations to best meet the needs of patients, surgeons and healthcare facilities. This includes the design and development of knee and hip prostheses, which are implanted in place of damaged or worn-out joints. Supported by PAI Partners, through its Mid-Market Fund, Amplitude Surgical has experienced significant growth over the last four years, driven by new product development, international growth, investments in manufacturing capabilities and R&D. In fiscal year ended June 30, 2024, Amplitude Surgical generated sales of €106.0mn and EBITDA of €27.1mn on a consolidated basis under IFRS. For the 6 months ended December 31, 2024, Amplitude Surgical’s consolidated sales amounted to €51.5mn (a growth of 5% Y-o-Y at current exchange rates) with an EBITDA margin of approximately 25.4% (unaudited figures).

Dr. Sharvil Patel, Managing Director, Zydus Lifesciences Limited, said: “Our legacy in science, health and innovation has enabled a deep understanding of patient journey and their care pathways. We believe this was a natural extension in the field of medical technology. Our commitment to quality excellence, continuous investments in R&D and expertise in manufacturing will guide our foray into highly specialised MedTech products, adding a new dimension to our operations. In Amplitude Surgical, we see several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing and geographies.”

Medical Technology includes medical devices and related scientific infrastructure that directly contribute to the development of these products and solutions. The medical device market alone is estimated at over half a trillion dollars globally. This market is broadly divided into segments such as implants, equipment, consumables and in-vitro diagnostics. The Government of India (GoI) has recognised the medical device sector as a sunrise sector with strong growth potential.

Zydus MedTech is focusing on high quality products and solutions for patients with cutting-edge research and innovation around design and engineering. The focus will also be on state-of-the-art manufacturing capabilities that will enable high quality solutions supported by a specialist team. The business currently markets interventional cardiology products.

Olivier Jallabert, CEO and Founder, Amplitude Surgical, said: “The Amplitude Surgical team and I are delighted to join Zydus. This acquisition by a worldwide healthcare leader is a testament to the successful development of the Company over the last 25+ years, originally as a national orthopedics challenger and today as a European leader. I would like to thank PAI Partners for their trust and continuous support in our growth journey. We have demonstrated our resilience in periods of uncertainty while driving the transformation of the Company, developing our commercial, industrial, and technological capabilities.”

Stefano Drago, a Founding Partner of PAI Mid-Market Fund, PAI Partners, said: “We are delighted to have supported Amplitude Surgical’s transformation into a European leader in lower-limb orthopaedics, with a particular focus on innovation. Over the last four years, the Company has reinforced its market position, delivered a strong financial performance based on continuous product development, successfully disposed of a non-core business and streamlined operational processes while developing a new state-of-the-art manufacturing facility in France and an innovative surgical robot. Thank you to Olivier Jallabert and his fantastic team for their partnership.”

Important transaction terms

The transaction which remains subject to entering into definitive agreements for the Block Acquisition, will be submitted to Amplitude Surgical employee representative bodies. It will also be subject to customary conditions precedent, including the transaction being authorized by the French Minister of Economy as part of the control of foreign investments in France, the completion of the re-investment by Olivier Jallabert of a portion of his proceeds into the Amplitude group, as well as the absence of qualified material adverse events.

The Board of Directors of Amplitude Surgical has favourably welcomed Zydus’s proposal and has set up an ad hoc committee made up of 3 members, two of which are independent directors, and appointed Finexsi as the independent expert for the Board of Directors of Amplitude Surgical pursuant to the provisions of Article 261-1 I (including 2° and 4°) of the Autorité des Marchés Financiers (“AMF”) General Regulation.

On March 11, 2025, Amplitude Surgical and Zydus entered into a tender offer agreement under which Zydus undertook to file the tender offer (subject to completion of the Block Acquisition), and Amplitude Surgical undertook to cooperate with Zydus in this respect.

It is expected that the Block Acquisition would be completed and the Offer would be filed with the AMF after the regulatory approvals are obtained by June 2025. The opening of the subsequent tender offer will then remain subject to the AMF’s clearance decision.

Olivier Jallabert, Founder and CEO of the Company, would remain involved in Amplitude Surgical moving forward.

The trading of the stock will resume at the opening of the market on March 12, 2025.

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¹ Based on a total number of shares and theoretical voting rights of 48,020,841 as of 10/03/2025</font size>
² Through its subsidiaries/affiliates</font size>
³ Directly and indirectly through the acquisition of holding companies Auroralux, Ampliman 1, and Ampliman 2</font size>

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Tags: life Science

Novacap Announces Successful Exit from Smyth Companies, LLC

admin March 7, 2025

Novacap, a leading North American private equity firm, is pleased to announce the successful exit of its investment in Smyth Companies, LLC (“Smyth”), a premier provider of innovative and sustainable labeling solutions for consumer products. Smyth has been acquired by Crestview, a private equity firm focused on the middle market, further positioning the company for continued success and growth. This marks a significant milestone for Novacap and reinforces its commitment to fostering growth and operational excellence within its portfolio companies.

Since Novacap’s initial investment, Smyth has expanded its market position as a trusted partner to leading global consumer packaged goods (CPG) brands. Under Novacap’s ownership, the company has implemented key strategic initiatives, invested in state-of-the-art equipment, and successfully implemented its “One Smyth” operational philosophy. These efforts have positioned Smyth as a national leader in prime label solutions, with a well-invested manufacturing footprint and a diversified customer base.

“Our partnership with Smyth exemplifies Novacap’s ability to drive long-term value creation through operational improvements and strategic initiatives,” said Domenic Mancini, Senior Partner at Novacap. “We are incredibly proud of the progress achieved by the Smyth team and confident that the company is well-positioned for continued success in the evolving labeling and packaging industry.”

“Novacap’s strategic guidance and investment have been instrumental in accelerating our growth and enhancing our ability to serve our customers with cutting-edge labeling solutions,” said Scott Fisher, President of Smyth Companies. “We are grateful for their support and look forward to continuing our journey as an industry leader.”

The successful exit of Smyth underscores Novacap’s expertise in identifying and nurturing companies within the industrial and packaging sectors, leveraging sector knowledge to drive sustainable and scalable growth.

Baird served as financial advisor while Blake, Cassels & Graydon LLP and Fox Rothschild LLP provided legal counsel to Novacap. Evercore served as financial advisor while Gibson, Dunn & Crutcher LLP provided legal counsel to Crestview Partners.

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacap.ca.

About Smyth Companies, LLC
Established in 1877, Smyth Companies, LLC (Smyth) is a leading provider of high-impact label decoration for consumer goods products. From neighborhood businesses to Fortune 500 companies, Smyth’s trusted Labels Without Limits®, Dow Beauty, and PurePack® brands provide quality, innovative packaging solutions to brand owners in the beauty, health, personal care, household, food, automotive, private label, and beverage markets. Using a broad range of print technologies from traditional roll- and sheet-fed to digital and expanded gamut printing, Smyth’s products include pressure sensitive, cut and stack, and in-mold labels; shrink sleeves; flexible packaging, including pouches and rollstock; and promotional; as well as fulfillment services, and equipment application and support. Headquartered in St. Paul, Minnesota, Smyth has eight production facilities in North America, employing more than 550 associates. For more information on Smyth please visit www.smythco.com.

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Tags: Agri & Food Industrie

INNERGY Announces Acquisition of Microvellum, Bringing Together Two Industry Leaders in Custom Millwork Technology

admin March 7, 2025

INNERGY, the leading provider of ERP software for custom millwork and cabinetry manufacturers, today announced the acquisition of Microvellum, a pioneering force in woodworking design software. The two companies have deep roots in the woodworking industry and a shared commitment to raving fans.

AUSTIN, Texas, March 7, 2025 /PRNewswire-PRWeb/ — INNERGY, the leading provider of ERP software for custom millwork and cabinetry manufacturers, today announced the acquisition of Microvellum, a pioneering force in woodworking design software. The two companies have deep roots in the woodworking industry and a shared commitment to raving fans.

“This is an incredible moment of growth for our industry,” said Marc Sanderson, CEO of INNERGY. “For years, I’ve listened to woodworking business owners share their challenges around engineering bottlenecks and the growing complexity of modern millwork businesses. By bringing together INNERGY and Microvellum, we’re tapping into decades of industry expertise to solve these challenges and create new opportunities for our respective customers.” David Fairbanks, President of Microvellum said, “This is an exciting moment for the millwork industry. We are thrilled to join forces with INNERGY to pursue our vision of a world where people have the freedom and flexibility to create extraordinary things with ease. By bringing INNERGY and Microvellum together, we believe we will achieve that vision.”

The alliance of INNERGY and Microvellum represents a significant step forward for the industry. Microvellum customers already benefit from a direct integration with INNERGY’s ERP system, and this acquisition will enable seamless support for customers ready to add ERP capabilities to their operations. Over the next year, INNERGY will ensure its cloud-based DESIGN platform integrates with Microvellum, offering customers a path to modernize their operations at their own pace. INNERGY’s long-term vision is to provide millwork businesses with fully integrated, cloud-based solutions that drive efficiency and profitability. “The culture of the INNERGY and Microvellum teams are closely aligned, focused on creating positive outcomes for our customers. We feel this is a competitive advantage for the millwork industry as we scale what each of our companies does best, changing the industry,” Fairbanks continued.

“Every time I meet with cabinet shop owners and millwork manufacturers, they tell me about the increasing costs and complexity of engineering,” Sanderson continued. “Our vision is to help these businesses thrive by providing tools that match the sophistication of their craft while preserving the workflows they depend on.”

The acquisition creates immediate opportunities for customers of both companies:

Microvellum customers will receive dedicated support to begin adopting INNERGY’s integrated ERP capabilities
By integrating with Microvellum, DESIGN’s cloud-based drafting software will preserve existing workflows while increasing engineering velocity and collaboration
Continued support and development for all current products and customers

“Both INNERGY and Microvellum were built by woodworkers, for woodworkers,” added Sanderson. “That industry expertise will continue to fuel new technologies that will help customers succeed for generations to come.”

Both organizations will continue to operate separately while collaborating on new features that benefit their customers. The existing leadership teams will remain in place, ensuring continuity of service and relationships. The companies will continue to operate with the same commitment to customer success that has defined both organizations.

For more information about INNERGY and its solutions, visit innergy.com.

About INNERGY

INNERGY provides integrated business management and design solutions for custom millwork and cabinetry manufacturers. Built by industry veterans with decades of woodworking experience, INNERGY’s cloud-based platform combines sophisticated project management capabilities with intuitive design tools to help custom manufacturers optimize their operations and grow profitably.

About Microvellum

Microvellum provides highly customizable design-to-manufacturing solutions for custom wood product manufacturers. Backed by industry experts, Microvellum’s platform integrates powerful automation tools for design, drafting, product engineering, reporting, production, and more—giving manufacturers the freedom to build extraordinary things with ease, enhance efficiency, and scale with confidence.

Media Contact

Cassey Gibson, INNERGY, 1 8005707230, cassey.gibson@innergy.com, https://www.innergy.com/

SOURCE INNERGY

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Tags: Software

IK Partners to acquire Tecomatic

admin March 6, 2025 No Comments

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in Tecomatic (“the Company”), a leading Swedish provider of water treatment and erosion control solutions, from PEQ Invest (“PEQ”). IK will invest from the fund’s dedicated pool of Development Capital, alongside the management team who will be reinvesting. Financial terms of the transaction are not disclosed and the completion of the transaction is subject to regulatory approval.

Founded in 1985 and headquartered in Kalmar, Sweden, Tecomatic is a specialist in protecting critical infrastructure and purifying marine environments, with end-to-end solutions for water treatment and erosion control. The Company’s comprehensive water purification solutions include sediment removal, floating walls and silt screens, which remove pollutants from storm-, process-, leachate- and waste-water before discharging them into waterways. Tecomatic’s erosion protection segment extends across land and water, providing customisable concrete mattresses and rock bags which prevent the spread of hazardous sediment as well as protect bridges, wind turbines and underwater cables.

Tecomatic operates throughout Sweden, mainly serving cities and municipalities as well as recycling, construction and infrastructure companies. The Company plays an important role in building awareness around the importance of water treatment, which drives demand throughout the value chain.

Emil Eriksson, Head of Water Treatment at Tecomatic, said: “Since merging with Järven Ecotech in 2022, Tecomatic has successfully integrated operations and broadened its product offering, executing numerous projects and establishing a recurring customer base. As we enter the next phase of growth, we are delighted to welcome the IK team, who brings both significant experience and expertise in the Nordics and beyond.”

Patrik Stockhaus, Director at IK and Advisor to the IK SC III Fund, added: “We are excited to be partnering with Tecomatic, which has demonstrated strong growth and an attractive pipeline in Sweden and the rest of the Nordics. The Company also provides essential flood control, water protection and soil erosion solutions, all of which are helping to strengthen resilience against growing environmental challenges. IK has a long history of supporting Industrials businesses and we aim to leverage our expertise to further consolidate Tecomatic’s position in the market.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Director of Communications and Marketing
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

About Tecomatic

Tecomatic specialises in solutions and products for environments where there are problems with erosion of land and fine material or the spread of environmentally hazardous sediment. Active since the 1980s, Tecomatic also offers complete solutions in water treatment and complete facilities for the collection and treatment of stormwater, leachate, process water and wastewater as well as sediment discharge. For more information, visit tecomatic.com/en/

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 €19 billion of capital and invested in 200 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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Motive Partners and Apollo Launch Lyra Client Solutions

admin March 6, 2025 No Comments

Lyra Provides End-to-End Client Services Across Institutional and Wealth Channels

Former Advent International CFO Eileen Sivolella joins as Board Chair and Independent Director

New York, March 6, 2025 – Motive Partners (“Motive”), a specialist private equity firm focused on financial technology, and Apollo (NYSE: APO) today announced the launch of Lyra Client Solutions Holdings, LLC (“Lyra”). A spin-out from Apollo’s client services division, Lyra offers a differentiated client-servicing solution, delivering technology and operations capabilities that enhance efficiency and the client experience in both the institutional and wealth channels. Motive and Apollo have both invested capital in the new company to support the stand-up and commercialization of the business.

Private markets continue to see rapid growth fueled by product innovation, shifting portfolio allocations and a growing investor base. In meeting this demand, alternative asset managers are expected to not only deliver top-tier investment products and returns, but to also uphold superior service levels that are increasingly difficult to sustain amid cost and efficiency pressures. As a standalone client service solutions business, equipped with leading operations talent supported by next-generation technology, Lyra provides scalable, white glove services that investors demand, including pre-trade, onboarding, and post-trade capabilities.

As part of the launch of the new company, Eileen Sivolella has joined Lyra as the Board’s Chair and Independent Director. Most recently, Sivolella served as Managing Director and Global Chief Financial Officer of Advent International, a private equity firm with $90 billion in assets under management, from 2009 until her retirement in 2022. Prior to Advent, she was the Global Chief Financial Officer of Bain Capital and served on the firm’s key committees, including the valuation, operational audit, and compensation committees. Before that, she was a Partner at Deloitte and a founder of its private equity practice in New York.

Scott Kauffman, a Founding Partner and Head of the Investment Team at Motive Partners, commented, “We believe Lyra is a foundational component of private markets in both the institutional and wealth channels. As private market investments continue to grow, alternative asset managers will need to maintain operational excellence and scale using technology. Investments in companies such as Lyra help create a network that makes Motive’s portfolio companies well-positioned to deliver compelling value to asset managers, wealth managers and their clients.”

Stephanie Drescher, Partner and Chief Client & Product Development Officer at Apollo, added, “Investors continue to turn to private markets as they seek excess return per unit of risk and greater diversification than what has historically been offered by traditional portfolio construction. Amid this growing demand, Apollo is committed to ensuring the client experience keeps pace. Lyra is a testament to that commitment, providing a technology-enabled, best-in-class experience for institutional, wealth, and family office investors.”

Neil Cochrane, a Partner on the Investment Team at Motive Partners, added, “The investment in Lyra is another step towards digitizing and scaling private markets. Our goal is to make private market investments as accessible and serviceable as public securities through advancements in technology and specialist operational offerings like Lyra. Technology will empower investors to have greater access to private markets, while Lyra enables asset managers to scale efficiently and effectively. At Motive Partners, we continue to define, and invest in, the next era of wealth and asset management.”

About Motive

Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. For more information, please visit www.motivepartners.com

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

For more information, please visit motivepartners.com.

Contact Information

Apollo

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
+1 212 822 0540 | IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
+1 212 822 0491 | Communications@apollo.com

Motive Partners

Britt Zarling
Head of Marketing and Communications
+1 414 526 3107 | Britt.Zarling@motivepartners.com

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Tags: Wealth Management

Homecare specialists Medi-Markt and Unizell merge to form Liveo Group

admin March 6, 2025

The Liveo Group brings a highly capable supplier to the German homecare market specialising in the sophisticated, long-term care of chronically ill or impaired people in their home environment. Mannheim-based Medi-Markt Group and Unizell Medicare GmbH from Bad Schwartau are combining their strengths with the assistance of European private equity company Gimv.

The new Liveo Group’s service offering comprises a broad range of products and services required for domestic care and support such as absorbent or drainage incontinence products, care for stoma patients, care aids, diabetes products and enteral nutrition therapies as well as nursing courses, training and emergency call systems. The Liveo Group will employ over 450 people. The Group operates throughout Germany and will achieve total combined sales revenues of approximately EUR 150 million. The two merging company groups will retain their existing brand names.

Gimv acquired a majority in Medi-Markt as part of a succession plan in 2018. Since then, it has worked with management to continuously develop its offering and its market position, helping the company to achieve strong growth. The acquisition of the Saxony-based firm mediclean Home Care Service GmbH greatly expanded the supply of medical resources and consumables in the federal states of Eastern Germany and in the nursing sector. Since Gimv came on board the offering for patients has expanded, significant investments were made in digitisation, and sales revenues have jumped by around 70%. Thanks to this strong growth, Gimv has achieved returns above its long-term average targets throughout its entire investment period in Medi-Markt.

Under the more than 30-year leadership of its managing partner Jürgen van der Smissen, Unizell has developed into a successful full-service provider for homecare patients. The expansive, customer-centred portfolio comprises products, training courses, qualifications and personal support.

“The merger improves our performance and enables us to offer innovative digital solutions that make life easier for our customers, for patients, for caregiving relatives and for specialist staff, improving their use of our offerings. This step will make for even better care. Our employees are the key to our success. By combining their knowledge, we are laying a strong foundation for continued growth and development – for our customers, our employees and our shareholders”, explains Dr. Torge Doser, CEO of Medi-Markt and of the new Liveo Group.

This view is shared by Jürgen van der Smissen, Managing Partner of Unizell who will support the group as a significant minority shareholder and advisory board member following the transaction: “I am delighted to see two quality-leading suppliers now coming together whose philosophy centres around customers’ needs and desires and who complement each other perfectly. Together they are forming a group that stands for very similar values and that will be able to shape the homecare market even more actively than before, to everyone’s benefit.”

Philipp v. Hammerstein and Lars Timmer, Partner specialising in healthcare and Senior Principal at Gimv’s Munich office, add: “With Unizell, Medi-Markt has found the perfect fit. The Liveo Group will give even more people greater control over their day-to-day lives while improving the quality, efficiency and cost-effectiveness of their care. We look forward to assisting the Liveo Group with all our energy over the coming years.”

Gimv will hold a majority interest in Liveo and will continue to grow the group with Jürgen van der Smissen. The transaction remains subject to the usual official approval and is expected to be completed in the coming weeks. Upon completion, the Liveo Group will be among Gimv’s five largest portfolio companies.

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Tags: Consumer brands Retail

Hassana Investment Company and Warburg Pincus Sign MoU to Explore Investment Opportunities in Saudi Arabia

admin March 5, 2025

Riyadh /New York 5 March 2025 –- Hassana Investment Company and Warburg Pincus, the pioneer of private equity global growth investing, have signed a Memorandum of Understanding (“MoU”) to strengthen the firms’ strategic partnership and collaborate on investment opportunities within the Kingdom of Saudi Arabia.

On the sidelines of a roundtable discussion that was held at the Ministry of Investment, in the presence of His Excellency the Assistant Minister, Eng. Ibrahim Almubarak, the MoU was signed by Mr. Ahmed W. Alqahtani, CIO of Regional Markets at Hassana, and Mr. Jeffrey Perlman, CEO, Warburg Pincus.

The partnership between Hassana and Warburg Pincus reinforces their mutual commitment to identifying and investing in high-growth sectors across different asset classes. Through this collaboration, both firms will leverage their respective expertise to explore and execute investment opportunities that contribute to the Kingdom’s long-term economic growth.

As one of the region’s most active institutional investors, Hassana is dedicated to creating long-term value and delivering the best outcomes across asset classes and geographies. Warburg Pincus, with its nearly 60-year track record of delivering consistent returns to investors, has remained focused on disciplined investing, diversification and investing in global, growth-oriented businesses. Both institutions will bring strategic insights and access to high-quality investment opportunities.

Commenting on the partnership, Hani Al-Jehani, Chief of Investment Officer – International Markets, Hassana Investment Company, stated: “Our relationship with Warburg Pincus in international markets is a decade long partnership and we look forward to extending the partnership to consider potential opportunities in the Kingdom of Saudi Arabia. Warburg Pincus has deep expertise in several domains that align with the economic goals of the Kingdom and is entrusted by LPs globally to manage their assets.”

He added: “At Hassana, we look forward to expanding our cooperation to explore potential investment opportunities in the Kingdom, as it is witnessing economic transformations that reflect the objectives of Saudi Vision 2030, contributing to creating an attractive investment environment for local and international investors.”

Jeffrey Perlman, Chief Executive Officer, Warburg Pincus, added: “We see incredible investing opportunities in the Middle East. This agreement reflects our shared commitment to support growth in the Kingdom of Saudi Arabia. Partnering with Hassana deepens our relationships in the region and allows us to identify strong investment opportunities and management teams looking for their next chapter of growth.”

-Ends-

About Hassana Investment Company

Hassana Investment Company is the investment manager of the General Organization Social Insurance in Saudi Arabia. Hassana manages one of the largest pension funds in the world with over SAR1.2 trillion Saudi riyals (300 billion US dollars) of assets under management.

Hassana’s investment strategy focuses on long-term growth and uses a comprehensive approach to asset management, aiming to secure the future retirement pensions of Saudi generations.

To learn more, please visit: www.Hassana.com.sa

About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

For media inquiries, please contact:

Kerrie Cohen | Managing Director, Global Head of Communications & Marketing, Warburg Pincus

kerrie.cohen@warburgpincus.com

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Tags: Investments

Darwinbox Raises $140 Million Investment Co-led by Partners Group and KKR to Accelerate Global Expansion

admin March 5, 2025

HYDERABAD, India–(BUSINESS WIRE)– Darwinbox, a leading global human resource (“HR”) technology platform, today announced the signing of definitive agreements under which Partners Group, one of the largest firms in the global private markets industry (acting on behalf of its clients), and funds managed by KKR, a leading global investment firm, will co-lead an investment of $140 million in the company, with additional participation from Gravity Holdings. The addition of Partners Group and KKR to an already-solid cap-table underscores Darwinbox’s strong momentum over the recent years. The investment positions Darwinbox well to deepen its technology leadership and accelerate its international expansion plans.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250304817935/en/

Founded in 2015, Darwinbox is a mobile-first and AI-enabled human capital management platform that serves more than 1,000 enterprises around the world. In less than a decade, Darwinbox has expanded internationally across multiple markets, including Asia Pacific, the Middle East, the United Kingdom, and the United States. In particular, since its entry into North America two years ago, the company has seen significant traction and is doubling down on its regional presence. Over the last two years, Darwinbox has built a robust and diversified global portfolio, having achieved a fivefold growth in revenue in international markets, with over 60% of new revenue coming from international markets.

In 2024, Darwinbox was recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites for enterprises with more than 1,000 employees, making it the youngest and only Asian company to receive the accolade.

“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” said Jayant Paleti, Co‐founder of Darwinbox. “By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI‐powered solutions for thousands of enterprises worldwide.”

Cyrus Driver, Managing Director, Private Equity, Partners Group, comments, “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”

Globally, over 3 million employees from leading brands — including Starbucks, Nivea, AXA, Cigna, WeWork, Crisil (an S&P company), T-Systems, and more — rely on Darwinbox’s platform for modern HR management. Darwinbox’s recent wave of product rollouts — highlighted by a multi-country payroll solution and enhanced GenAI features — demonstrates its commitment to next-generation HR innovation.

Partners Group invests through its growth equity strategy, which applies a thematic approach to identify investment opportunities in growth-stage companies globally. Partners Group made its first growth investment in 2013 and has deployed around $2.5 billion in the space to-date. The firm’s recent growth investments include Lumin Digital, a leading cloud-native digital banking provider, and Neara, one of the first AI-powered predictive modeling software platforms for critical infrastructure.

KKR makes its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia across consumer technology, software, and FinTech. This marks KKR’s latest growth equity investment in India and the region, including Rebel Foods, an internet restaurant company in India; Lenskart, an omni-channel eyewear retailer; Livspace, an omni-channel home interior and renovation platform; KiotViet, a SaaS platform for SMBs in Vietnam; and Privy, a digital trust provider in Indonesia.

Avendus Capital acted as the financial advisor and investment banker on this transaction.

About Darwinbox

Founded in 2015, Darwinbox is a global HR tech leader that empowers enterprises to better manage their talent with new-age employee experiences and disruptive AI-powered technology. Its cloud-based Human Capital Management (HCM) software caters to an organisation’s HR needs across the entire employee lifecycle. Darwinbox is trusted by over 3 million employees from more than 1000 enterprises across 130 countries. Darwinbox has been backed by global investors like TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed and Endiya Partners among others.

About Partners Group

Partners Group is one of the largest firms in the global private markets industry, with around 1’800 professionals and over USD 150 billion in assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to build businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

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 Gravity Holdings

Gravity Holdings is a technology growth equity firm. Gravity invests in technology businesses whose persistent competitive advantages support unusually high growth and cash generation over the long term. Gravity leverages its global network to unlock bespoke growth opportunities for the firm’s small handful of partnerships. For further information please visit www.gravityholdings.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250304817935/en/

Media Contacts

For more information, please contact:

For Darwinbox
Rishita Chiranewala
Rishita.Chiranewala@darwinbox.in

For Partners Group
Henry Weston
Henry.Weston@partnersgroup.com

For KKR Asia Pacific
Wei Jun Ong
WeiJun.Ong@kkr.com

Source: KKR & Co. Inc.

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Categories: News

Tags: Information technology

KKR to Sell Seiyu to Trial Holdings

admin March 5, 2025

Transaction marks significant outcome for KKR and poises Seiyu for further success

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, and Seiyu, a nationwide supermarket chain in Japan, today announced the signing of definitive agreements to sell Seiyu (the “Company”) to Trial Holdings, Inc. (TSE stock code 141A; “Trial”), a distribution and retail business operator in Japan that operates a network of stores offering “everyday essentials” in Kyushu. This transaction represents a significant outcome for KKR and follows transformational work that positions Seiyu strongly for continued success.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250304329234/en/

KKR first acquired a 65% majority stake in Seiyu from Walmart in 2021, before acquiring an additional 20% stake from Rakuten in 2023, taking KKR’s shareholding to 85%. As part of the transaction, Walmart will also sell its 15% stake to Trial.

As committed investors in Seiyu, KKR and Walmart have collaborated closely to support Seiyu’s growth by focusing on improving operational efficiency, product quality and selection, profitability, and productivity through technology adoption. Since 2021, Seiyu has benefited from a range of value creation efforts, such as:

Improving the quality and selection of products, especially for fresh produce, delicatessen, and Seiyu’s popular in-house brands, which are all major revenue drivers for Seiyu;
Developing standard operational processes and adopting technological solutions, such as self-checkout and automatic restocking systems, to aid workers, leading to solid man-hour productivity increases;
Transforming Seiyu from a traditional General Merchandise Store (GMS) into a “supermarket” by optimizing its product assortment and distribution strategies; and
Accelerating Seiyu’s digital transformation to enable superior customer experience, including through strengthening and modernizing its IT infrastructure.

Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, said, “We are incredibly proud of what we have achieved with Seiyu and our strategic partners Walmart and Rakuten over the course of our ownership, and how this has delivered tremendously for Seiyu’s customers and our investors. Seiyu serves as an outstanding example of how global investors with deep local knowledge, global connectivity and know-how can help iconic Japanese brands and local champions unlock their full potential. We are confident that Seiyu is well-placed to build on its achievements and wish the company and Trial continued success.”

Tsuneo Okubo, CEO of Seiyu, said, “We would like to thank our longstanding shareholders, including KKR and Walmart, for their support, which has enabled us to create substantial value for our customers and business. Over the past few years, we have leveled up our merchandising strategies and in-store operational capabilities while reinvesting in our stores, employees, and IT capabilities as part of our transformation. We now look forward to building on this success with the support of our new shareholder Trial in Seiyu’s next chapter.”

KKR made its investments in Seiyu from its Asian Fund IV. The transaction is expected to close in the second quarter of 2025, subject to regulatory and customary closing conditions.

About Seiyu
Established in 1963, Seiyu is a nationwide supermarket chain in Japan with more than 240 retail units. Through its supermarket and hypermarket formats and Seiyu Netsuper delivery service, Seiyu offers customers a broad assortment including fresh food, general merchandise, and apparel products across Japan.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250304329234/en/

For more information, please contact:

Media Inquiries

For Seiyu
Corporate Communications, Corporate Planning
+81 4222 68 7102

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

For Walmart
Rachael Simmons
Rachael.simmons@walmart.com

Source: KKR & Co. Inc.

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Categories: News

Tags: Consumer brands

ITE Management Announces Strategic Investment by Blackstone and Launch of Financing Partnership

admin March 5, 2025

NEW YORK – March 5, 2025 – ITE Management, L.P. (“ITE”), a leading alternative asset manager focused on transportation infrastructure, announced today a strategic minority investment from funds managed by Blackstone Credit & Insurance (“BXCI”). The investment and strategic partnership enable ITE and BXCI to collaborate and enhance ITE’s leadership position amidst a growing opportunity set within the transportation infrastructure sector.

BXCI and ITE also launched a strategic forward flow partnership, with BXCI targeting to provide ITE with up to $2 billion of capital for investments and financing over the initial phase of partnership. ITE, with over $10 billion in assets and over 70 investment and operating professionals, focuses on asset-backed investments, primarily in the transportation infrastructure sector, most notably: rail, intermodal, specialty aviation, port and infrastructure equipment, and electric vehicles.

“This investment and partnership with Blackstone is recognition of ITE’s leading position in transportation infrastructure finance and the growing opportunity set within the sector,” said Jason Koenig, Co-Founder of ITE. “Our firm will benefit from Blackstone’s debt and equity financing as well as its expansive global network.”

“ITE is a respected leader in the transportation infrastructure space, where they own, operate, and finance critical assets that support key segments of the U.S. economy,” said Robert Horn, Global Head of Infrastructure & Asset Based Credit at BXCI. “We are excited to partner with ITE on large scale transportation infrastructure investment opportunities across the capital structure and return spectrum.”

BXCI’s Infrastructure and Asset Based Credit platform manages over $90 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace. The platform is focused on providing investment grade credit, non-investment grade credit, and structured investments across the real economy in sectors such as digital infrastructure, energy transition infrastructure, consumer finance, commercial finance, and residential real estate.

Transaction proceeds will be directed towards growing existing ITE products and funding growth initiatives, including new products and platforms. ITE will continue to operate independently under the ongoing leadership of Co-Founders Jason Koenig and David Smilow.

Advisors
Goldman Sachs & Co. LLC is acting as the exclusive financial advisor to ITE and Weil, Gotshal & Manges is acting as legal advisor to ITE. Guggenheim Securities, LLC is acting as financial advisor and Kirland & Ellis is acting as legal advisor to Blackstone.

Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

About ITE Management L.P.
ITE Management L.P. (“ITE”) is a privately held, SEC-registered, alternative investment firm focused on transportation infrastructure. We seek to generate stable risk-adjusted returns for investors through a highly diversified portfolio of critical, income-generating transportation assets. ITE’s investment process is built on its deep operational expertise within the industry, access to extensive data, and focus on portfolio construction. Founded in 2012, ITE is headquartered in New York and manages over $10B in asset value.

Blackstone
Thomas Clements
Thomas.Clements@blackstone.com
(646) 482-6088

ITE Management
Matt Liszt
mliszt@itemgmt.com
(212) 220-5802, extension #4

Categories: News

Tags: Asset Management

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