Category Archives: News

Bain Capital Announces Majority Investment in Milacron, a Leading Global Provider of Highly Engineered Plastic Processing Solutions

BainCapital

  • Investment to accelerate Milacron’s growth and strengthen its position as a global leader in highly engineered plastic processing solutions.
  • Milacron’s comprehensive suite of equipment offerings and services enables the production of everyday products used across the construction, automotive, packaging, consumer goods, and medical sectors.
  • Hillenbrand (NYSE: HI), Milacron’s current owner, will continue to remain a significant investor in the business.

BOSTON, Mass. and BATESVILLE, Ind. – February 5, 2025 – Bain Capital, a leading private investment firm, today announced a majority investment in the Milacron Injection Molding and Extrusion business (or the “Company”), a globally renowned provider of highly engineered plastic processing equipment and services. Bain Capital will partner with Milacron’s current owner, Hillenbrand, Inc. (NYSE: HI), who will remain a significant investor in the business to accelerate the Company’s continued growth. Bain Capital entered into a definitive agreement to purchase an ownership stake of approximately 51% of Milacron for $287 million, subject to customary closing adjustments. Hillenbrand will retain an ownership stake of approximately 49%.

Since 1968, Milacron has been a global provider of highly engineered plastic processing solutions including injection molding and extrusion equipment as well as aftermarket parts and services. Milacron has long been recognized as a market leader for its product and service expertise serving a variety of end-markets, including the construction, automotive, packaging, consumer goods, and medical industries. With the largest installed base of equipment in the U.S., Milacron serves as a complete lifecycle partner, leveraging its extensive support network to deliver comprehensive aftermarket parts and services solutions.

“Milacron is an iconic American manufacturing business with a 50-year legacy of driving innovation in plastics,” said Matt Evans, a Partner at Bain Capital Special Situations. “With manufacturers increasingly focused on supply-chain resilience and domestic production, we believe the U.S. is entering a manufacturing renaissance that will create significant opportunities for industry leaders like Milacron. With its advanced engineering capabilities, global reach, and deep customer relationships, Milacron is well-positioned to build on its strong foundation.”

“We are excited to partner with Mac Jones, the President of Milacron, and the entire Milacron team to support the next chapter of growth of one of the world’s premier plastics processing solutions businesses,” added Chris Sun, a Principal at Bain Capital Special Situations. “Milacron combines industry-leading engineering and manufacturing capabilities with innovative technology to enable the production of essential products used daily in the U.S. and around the world. We share a common vision with Milacron’s associates, customers, and other partners to continue building on Milacron’s more than 50-year legacy to create an even stronger future ahead.”

“Following an in-depth portfolio review, we determined that Milacron would be best positioned for the future through this partnership with Bain Capital,” said Kim Ryan, Hillenbrand President & CEO. “Bain Capital has a proven track record of successful corporate partnerships and will provide greater resources to Milacron, which we believe will drive future growth and success for Milacron’s associates and customers, as well as for Hillenbrand’s shareholders.”

Bain Capital’s Special Situations team is making this investment following the successful close of its second vintage of funds, which raised over $9 billion. Bain Capital Special Situations has $22 billion in assets under management and has invested more than $16 billion since its inception in 2018, providing bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners. With a long track record of supporting industrial and manufacturing businesses globally, the team brings deep expertise in driving operational growth and long-term value creation.

The transaction is expected to close at the end of the Company’s fiscal second quarter or beginning of the fiscal third quarter. Deutsche Bank is serving as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Bain Capital.

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Its portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. The Company pursues excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders.

Forward Looking Statements

This press release contains forward-looking statements, including statements that are within the meaning of the Private Securities Litigation Reform Act of 1995 that are intended to be covered by the safe harbor provided thereunder, which reflect the current views of Bain Capital and Hillenbrand regarding future events, expectations, plans, and prospects for Milacron following the announced transaction. These statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied in such statements.

Forward-looking statements include, but are not limited to, statements regarding: the expected benefits of the transaction; Milacron’s future growth, market position, and business strategy; anticipated industry trends, including implications with respect to growing supply chain resilience and domestic manufacturing; and the expected timing of the transaction closing.

Any number of factors, many of which are beyond Hillenbrand and Bain Capital’s control, could cause Hillenbrand and Bain Capital’s performance to differ significantly from what is described in the forward-looking statements. These factors include, but are not limited to: the ability to recognize the benefits of any acquisition or divestiture, including the Milacron injection molding and extrusion business sale (the “Proposed Transaction”), including potential synergies and cost savings or the failure of Hillenbrand and Bain Capital or any acquired company, or the Proposed Transaction, to achieve its plans and objectives generally; any failure by the parties to satisfy any conditions to the Proposed Transaction; the possibility that the Proposed Transaction is ultimately not consummated; potential adverse effects of the announcement or results of the Proposed Transaction on the market price of the Hillenbrand’s common stock; and risks related to diversion of management’s attention from Hillenbrand’s ongoing business operations due to the Proposed Transaction. There can be no assurances that the Proposed Transaction will be consummated.

Readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For a more in-depth discussion of certain factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions in Hillenbrand’s filings with the U.S. Securities and Exchange Commission.

The forward-looking information in this release speaks only as of the date on which it is made. Hillenbrand and Bain Capital undertake no obligation to publicly update or revise any forward-looking statement, whether written or oral, made to reflect new information, future developments or otherwise.

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Gilde Healthcare company NIZO participates in national consortium investing in precision fermentation scale-up facility

GIlde Healthcare
February 4, 2025

The Netherlands is strengthening its position as a global leader in cellular agriculture with the launch of two independent, open-access scale-up facilities. These facilities, developed in a collaboration between NIZO Food Research, Cultivate at Scale (CaS), Cellular Agriculture Netherlands Foundation (CAN), Biotechnology Fermentation Factory Ede (BFF), Mosa Meat, the Ministry of Agriculture, Fisheries, Food Security and Nature (LVVN) and the Dutch government’s National Growth Fund (NGF), mark a significant milestone in the development of sustainable food production.

Cellular agriculture offers a promising path towards a more resilient and diverse food system. By producing meat, dairy and other animal products directly from cells, this technology can significantly reduce the environmental impact associated with industrialised food production, while also enhancing food security and health. To support the growth of this upcoming industry, these new advanced facilities will provide companies working in cell culture and precision fermentation with the essential infrastructure to scale up their R&D and production processes. By removing the need for companies to invest in costly, pilot-scale production infrastructure, they will drive innovation and accelerate the commercialization of cellular agriculture ingredients and products.

BFF-NIZO: Unlocking the Power of Precision Fermentation
The scale-up facility focused on precision fermentation Biotechnology Fermentation Factory Ede is set up in partnership with NIZO and is welcoming new customers. The facility offers direct connection to the existing NIZO food grade DSP pilot plant and food application research. The collaboration is built on NIZO’s strong experience and extensive analytical, regulatory, and commercialization services, and enables fast product and process development, product optimization, and seamless scaling. In addition to the financial support of the Dutch government, NIZO boosts the scaling success of precision fermentation through a five-million-euro co-financing commitment and Oost NL as fund manager of Perspectieffonds Gelderland B.V. will make a loan available to BFF.

Nikolaas Vles, CEO NIZO – “We are incredibly excited about the establishment of this new scale-up facility at the NIZO site. Our combined food-grade upstream and downstream pilot facilities, state-of- the-art laboratories and scaling infrastructure, offer unparalleled opportunities to accelerate the protein transition and realize our ambitions for better food and health.”

About NIZO Food Research
NIZO is a globally leading, private, and independent contract research organization specializing in food and health innovation for over 75 years. Operating the largest open access food-grade pilot plant in Europe, NIZO leverages the integrated power of science and technology to help customers in transforming food and nutrition more successfully, sustainably and faster; ultimately leading to better food and health.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

Categories: News

IK Partners to invest in HSL Compliance

IK Partners

London, United Kingdom – IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in HSL Compliance (“HSL” or “the Company”), a leading provider of environmental compliance services in the UK, alongside the management team who are re-investing as part of the transaction. This follows HSL’s successful six-year partnership with LDC, the private equity investor which is part of Lloyds Banking Group. LDC is also reinvesting in HSL for a minority stake alongside IK as the majority owner to support the continued growth of the business. Financial terms of the transaction are not disclosed and completion is subject to customary regulatory approvals.

Headquartered in Herefordshire and founded in 1976, HSL is a leading UK environmental testing, inspection, certification and compliance (“TICC”) company which provides a range of services across water hygiene, water treatment and other compliance activities. The Company boasts extensive national coverage with 19 offices across the UK and Ireland and employs approximately 650 people who serve a diversified base of more than 370 customers across a variety of private and public sectors, including Food and Beverage, Manufacturing, Facilities Management, Healthcare and Education.

Since LDC’s investment in 2019, HSL has quadrupled pro-forma revenues to £77 million and doubled headcount to 650 employees, establishing itself as a high-quality business capable of meeting the needs of nationally or regionally complex estates seeking a full-service provider for water hygiene and treatment services, alongside fire and air compliance services. With LDC’s support and follow-on funding, HSL has delivered a successful M&A programme and completed 11 bolt-on acquisitions, significantly increasing the breadth of its UK coverage and client base.

In partnership with IK, HSL will aim to lead the market in delivering solutions that keep its clients’ people protected, their businesses compliant and their environments safe. Through its extensive experience of investing in TICC platforms, IK will work closely with the HSL management team to accelerate growth both organically and through further consolidation of its target markets.

Gavin Hartley, CEO of HSL, said: “HSL has grown tremendously since inception and with the recent add-on acquisitions, I believe we have built an extremely solid foundation for the future. With the support of LDC, we have established HSL as a market-leading TICC service provider in the UK. The new partnership with IK will allow us to continue executing a targeted buy-and-build strategy and explore new opportunities to broaden our service offering. I’d like to take this opportunity to thank the LDC team for their unwavering support over the last few years and look forward to working with them alongside the team at IK.”

Tom Salmon, Partner at IK and Advisor to the IK SC III Fund, added: “We have been closely following the progress made by HSL in recent years and have been impressed by its unwavering commitment to quality and service delivery. We are looking forward to working with Gavin and his experienced team in their efforts to drive continued growth, by utilising our experience and expertise in executing successful buy-and-build strategies, while also supporting growth across a range of operational initiatives.”

Jonathan Bell, Managing Partner at LDC, added: “This has been a truly transformational period for HSL following the carve-out from global testing, inspection and certification group Kiwa in 2019. Since then, Gavin and the team have delivered on an ambitious growth strategy, underpinned by investment in its proposition and a series of successful strategic acquisitions. We’re excited to support HSL alongside IK as it continues to capitalise on high demand for its market-leading services in an attractive sector.”

For further questions, please contact:

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

LDC
Jamie Williamson
Citypress on behalf of LDC
Phone: +44 7908 536 423
Jamie.Williamson@citypress.co.uk

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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About LDC

LDC is a private equity investor and part of Lloyds Banking Group. It is authorised and regulated by the Financial Conduct Authority. We have partnered with more than 675 management teams since 1981 and have a portfolio of more than 90 businesses across the UK. We have made investments across all major sectors of the UK economy and are actively supporting businesses in industries including Business Services, Consumer, Healthcare, ICT, Industrials, Media and Technology. Our teams are based in every part of the UK. For more information, visit ldc.co.uk

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Success of friendly public tender offer initiated by Bridgepoint, in association with General Atlantic, management shareholders, for Esker shares

Bridgepoint
  • Boréal Bidco will hold 92.93% of the share capital and at least 92.68% of the voting rights of Esker at the end of the reopened Offer.
  • Settlement-delivery of the reopened Offer on 14 February 2025.
  • Implementation, as announced, of a squeeze-out procedure for the Esker shares.
  • The price per share paid in the context of this squeeze-out will be equal to the Offer price, i.e., €262 per share.

 

Success of the reopened Offer

947,693 shares of Esker were tendered to the public tender offer initiated by Boréal Bidco SAS (“Boréal Bidco” or the “Offeror”) with respect to the Esker shares (the “Offer”), representing 15.57% of the share capital and at least 15.46% of the voting rights of the company, as part of its reopening from 17 January to 30 January 2025.

In total, taking into account the shares tendered to the Offer and the Esker shares assimilated to shares held by the Offeror in accordance with applicable regulations, the holding (effective and assimilated) of Boréal Bidco is of 92.93% of the share capital and at least 92.68% of the voting rights of Esker at the end of the reopened Offer, reflecting the success of the Offer with a post-Offer holding level exceeding the thresholds of 90% of the share capital and voting rights of Esker.

The notice of results (avis de résultat) published by the AMF on 4 February 2025 is available on the AMF website (www.amf-france.org).

The settlement-delivery of the Offer will take place on 14 February 2025.

 

Implementation of a squeeze-out procedure

The conditions required to carry out a squeeze-out being met, the Offeror, in accordance with its intention expressed in the offer document related to the Offer, will soon request the AMF to implement the squeeze-out procedure for the Esker shares it does not hold, which will result in the delisting of the Esker shares from the Euronext Growth Paris market.

The amount of the indemnity paid in the context of the squeeze-out will be equal to the Offer price, i.e., €262 per share, net of all fees.

The trading of the Esker shares has been suspended pending implementation of the squeeze-out.

 

Jean-Michel Bérard, President and Founder of Esker, stated: “We are delighted with the success of this offer, which represents a major milestone in Esker’s history. Alongside Bridgepoint and General Atlantic, we are equipping ourselves to accelerate our development, further innovate, and strengthen our position as a leader in a rapidly expanding market. This partnership, and the delisting of the company, are fully in line with our ambition to better support our clients and to build, together, the future of Esker.”

Emmanuel Olivier, Chief Operating Officer of Esker, stated: “This is a key milestone in Esker’s history and the beginning of a particularly exciting new chapter ahead of us.”

David Nicault, Partner and Head of Technology at Bridgepoint, stated: “We are very pleased with this very high tender rate, which demonstrates the attractiveness of the offer and the relevance of our project. We are thrilled to be able to bring Bridgepoint’s resources and expertise to Esker to support its development plan in the coming years in a rapidly expanding market.”

Vincent-Gaël Baudet, Partner and Head of Bridgepoint Europe in France, stated: “The success of this offer reflects our ability to gain the trust of all stakeholders and to open new development opportunities for Esker and its teams.”

Gabriel Caillaux, Co-President and Head of General Atlantic’s business in EMEA, stated: “We believe Esker possesses a highly differentiated software solution and has the potential to continue expanding its product offering and international footprint. We look forward to partnering with the team as they open this new chapter of growth.”

Information and documentation relating to the Offer are available free of charge on the websites of Esker (www.esker.fr), Bridgepoint (www.bridgepoint.eu/shareholders/Sep-2024-microsite) and the AMF (www.amf-france.org).

Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity, infrastructure and private credit.

With over €67bn of assets under management and a strong local presence in Europe, North America and Asia, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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]init[ AG expands its healthcare business with the acquisition of HBSN Group

Rivean
  • Acquisition of HBSN Group enables further expansion of ]init[ AG’s customer base within the healthcare market
  • Strategic combination creates a market leader in digitalization for the public and healthcare sector in Germany

Berlin – With the acquisition of the HBSN Group, a specialist in digital transformation within the healthcare sector, ]init[ AG – a portfolio company of Rivean Capital and EMERAM Capital Partners – expands its comprehensive end-to-end digitalization portfolio beyond the public sector into healthcare. The acquisition establishes a leading digital specialist with over 1,500 employees across 18 locations. Both parties have agreed to keep the purchase price confidential.

“Germany faces significant challenges in both administrative digitalization and the transformation of the healthcare sector. Complex digitalization programs require effective and innovative end-to-end expertise, that are developed, implemented, and operated in a holistic and tailored manner. The combination of ]init[ and HBSN creates a unique service offering for comprehensive digital solutions,” said Harald Felling, Chief Executive Officer of ]init[ AG. “Our clients from both sectors will benefit from our combined strengths as well as additional competencies in key innovation fields, such as AI, IT security, data-sovereign cloud platforms, and IT service management. I look forward to the joint efforts in driving the digitalization, modernization, and advancement of public administration and healthcare in Germany.”

With the acquisition of HBSN Group, ]init[ AG expands its healthcare client base by approximately 380 active institutions. These include MD-IT, covering IT operations and support services for all medical services, AOK Saxony-Anhalt, which has a framework agreement for online services; and the Ministry of Social Affairs, Health, and Integration of Baden-Württemberg, which is developing a unified public health application landscape for all state health departments.

“Large-scale healthcare tenders increasingly require end-to-end capabilities. Together with ]init[‘s expertise, we can successfully meet this growing demand,” says Tobias Niemann, Founder of HBSN Group. “As part of ]init[, the competences and network of HBSN expands manifold. I look forward to the collaboration and the diverse synergies that will benefit both parties and our clients.” In light of the structural changes in the healthcare market, the founders and management team of HBSN have taken this strategic step to enhance their market position.

“The acquisition of the HBSN Group is a strategically significant step that strengthens ]init[’s position as one of a leading providers of digitalization services in regulated markets,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital. “With the support of Rivean Capital and EMERAM Capital Partners, who bring strategic know-how and capital, we are enabling ]init[ to further accelerate growth and achieve substantial progress in key markets such as the healthcare sector. This strategic combination lays the foundation for even greater capabilities to successfully meet the increasing demands for digital transformation in Germany.”

“The structural change in the healthcare system is well underway. One of the key challenges is the consistent and sustainable digitalization of this sector. With the acquisition of the HBSN Group, ]init[ is expanding its presence in regulated markets and further driving digital transformation in this area,” says Dr. Ruprecht Puchstein, Principal at EMERAM Capital Partners. “It is a central part of ]init[‘s strategy to transfer the existing expertise in the public sector to other regulated industries – a process that has been significantly accelerated by this acquisition.”

About ]init[ AG für digitale Kommunikation
]init[ AG für digitale Kommunikation is a leading expert for digitalization for the public sector and regulated markets. Founded in 1995, the company employs approximately 1,400 people across its locations in Berlin, Hamburg, Cologne, Leipzig, Munich, and Mainz. Additional subsidiaries of ]init[ AG include Swiss-based Ironforge Consulting AG, with offices in Bern and Zurich, as well as ]init[.DCP – Digital Communication Portugal, Unipessoal Lda in Porto. For more information, visit www.init.de.

About HBSN Group
Over the past 18 years, HBSN Group has developed into a successful consulting and technology partner in the healthcare market. The group includes HBSN GmbH with its subsidiaries HBSN Certifications GmbH in Germany, and xitee k.s. as well as xitee Beteiligungs s.r.o. in the Czech Republic. The companies support university hospitals and clinics, private and statutory health insurers, medical services, public health authorities, and IT system providers in software development, IT operations, and transformation projects. With 150 employees, the HBSN Group maintains a solid network of partners at its locations in Bad Hersfeld, Braunschweig, Brno, Hamburg, Hornburg, Frankfurt am Main, Leipzig, Lüneburg, Munich, and Prague. For more information, visit www.hbsn-gruppe.de.

About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. With offices in Frankfurt am Main, Amsterdam, Brussels, Zug and Milan, funds advised by Rivean Capital manage more than €5bn in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. For more information, visit www.riveancapital.com.

About EMERAM
EMERAM is one of the leading investment managers for investments in mid-sized companies in the German-speaking region. The funds advised by EMERAM provide more than 800 million euros in capital for the development of growth companies. The investment strategy focuses on the sectors Digital Transformation, Health and Well-Being, as well as Energy Transition. EMERAM acts as a long-term business development partner for its portfolio companies and promotes sustainable growth (both organic and inorganic). In addition, the implementation of comprehensive ESG concepts is a key focus. For more information, visit www.emeram.com.

Contacts

Rivean Capital
Maikel Wieland (Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30

]init[ AG für digitale Kommunikation
Sascha Lansmann (Corporate Communications)
sascha.lansmann@init.de
+49 30 97006 759

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Platinum Equity Sells Livingston to Purolator

Platinum

North American full-service customs brokerage firm divested following multi-year transformation campaign

Platinum Equity to continue pursuing opportunities to expand its portfolio of Canadian investments

LOS ANGELES (February 4, 2025) – Platinum Equity announced today the sale of Livingston International, an international trade services firm specializing in customs brokerage, freight forwarding and trade consulting, to Purolator, Inc., a leading integrated freight, package and logistics solutions provider.

Financial terms of the transaction were not disclosed.

Established in 1945 and headquartered in Toronto, Livingston has served as a trusted advisor to more than 30,000 businesses engaged in cross-border and global trade. The company is Canada’s largest customs broker and fifth-largest entry filer in the United States. Livingston has been a trusted partner supporting Purolator’s customs brokerage needs for many years.

Platinum Equity acquired Livingston in 2019.

“Over the past several years we worked with Livingston to transform the business using the full breadth of our financial and operational resources. We enjoyed tremendous collaboration with an outstanding management team and are proud of the work we have done together. Livingston has evolved into a well-managed, resilient and efficient enterprise ready to take the next step.”

Louis Samson, Co-President, Platinum Equity

 “Over the past several years we worked with Livingston to transform the business using the full breadth of our financial and operational resources,” said Platinum Equity Co-President Louis Samson. “We enjoyed tremendous collaboration with an outstanding management team and are proud of the work we have done together. Livingston has evolved into a well-managed, resilient and efficient enterprise ready to take the next step.”

Samson praised Purolator as a great home for Livingston.

“As a long-time Livingston customer and one of Canada’s most admired companies, we believe Purolator will be an outstanding long-term partner for the business going forward,” added Samson.

During Platinum Equity’s stewardship, Livingston underwent a multi-year transformation program.

“From the beginning we viewed Livingston as a strategic asset and set out to partner with the company’s leadership team to invest in optimizing its core offering, including customs brokerage and trade and consulting services,” said Platinum Equity Managing Director Jason Price. “We made significant enhancements to Livingston’s digital capabilities and invested in talent, technology and infrastructure to help set the company up for long-term success.”

Samson said Platinum Equity continues seeking opportunities to expand its portfolio of Canadian investments.

“We have been investing in Canada for a long time and know the market dynamics and leading sectors very well,” explained Samson, who grew up in Quebec City. “We believe there are a lot of opportunities to create value in partnership with Canadian businesses that can benefit from our approach.”

Platinum Equity recently signed a definitive agreement to acquire Héroux-Devtek, a leading international manufacturer of aerospace and defense products headquartered in Longueuil, Quebec. Platinum Equity’s current portfolio also includes Husky Technologies, a provider of injection molding equipment and services headquartered in Bolton, Ontario.

Morgan Stanley & Co. LLC and RBC Capital Markets LLC served as financial advisors to Livingston and Platinum Equity on the sale to Purolator and Stikeman Elliott LLP and Latham & Watkins LLP served as legal counsel on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions.

 

About Livingston International

Livingston International has served as a trusted trade adviser to businesses around the world for 75 years. It specializes in customs brokerage and trade compliance, and offers international trade consulting, global trade management and freight forwarding. Livingston provides clarity in a world of trade complexity, and reliability in times of volatility, so businesses can grow further, smarter and with confidence. Livingston employs approximately 2,700 associates at 55 key border points, sea ports, airports and other strategic locations across North America, Europe and Asia.

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]init[ AG expands its healthcare business with the acquisition of HBSN Group

Rivean
  • Acquisition of HBSN Group enables further expansion of ]init[ AG’s customer base within the healthcare market
  • Strategic combination creates a market leader in digitalization for the public and healthcare sector in Germany

Berlin – With the acquisition of the HBSN Group, a specialist in digital transformation within the healthcare sector, ]init[ AG – a portfolio company of Rivean Capital and EMERAM Capital Partners – expands its comprehensive end-to-end digitalization portfolio beyond the public sector into healthcare. The acquisition establishes a leading digital specialist with over 1,500 employees across 18 locations. Both parties have agreed to keep the purchase price confidential.

“Germany faces significant challenges in both administrative digitalization and the transformation of the healthcare sector. Complex digitalization programs require effective and innovative end-to-end expertise, that are developed, implemented, and operated in a holistic and tailored manner. The combination of ]init[ and HBSN creates a unique service offering for comprehensive digital solutions,” said Harald Felling, Chief Executive Officer of ]init[ AG. “Our clients from both sectors will benefit from our combined strengths as well as additional competencies in key innovation fields, such as AI, IT security, data-sovereign cloud platforms, and IT service management. I look forward to the joint efforts in driving the digitalization, modernization, and advancement of public administration and healthcare in Germany.”

With the acquisition of HBSN Group, ]init[ AG expands its healthcare client base by approximately 380 active institutions. These include MD-IT, covering IT operations and support services for all medical services, AOK Saxony-Anhalt, which has a framework agreement for online services; and the Ministry of Social Affairs, Health, and Integration of Baden-Württemberg, which is developing a unified public health application landscape for all state health departments.

“Large-scale healthcare tenders increasingly require end-to-end capabilities. Together with ]init[‘s expertise, we can successfully meet this growing demand,” says Tobias Niemann, Founder of HBSN Group. “As part of ]init[, the competences and network of HBSN expands manifold. I look forward to the collaboration and the diverse synergies that will benefit both parties and our clients.” In light of the structural changes in the healthcare market, the founders and management team of HBSN have taken this strategic step to enhance their market position.

“The acquisition of the HBSN Group is a strategically significant step that strengthens ]init[’s position as one of a leading providers of digitalization services in regulated markets,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital. “With the support of Rivean Capital and EMERAM Capital Partners, who bring strategic know-how and capital, we are enabling ]init[ to further accelerate growth and achieve substantial progress in key markets such as the healthcare sector. This strategic combination lays the foundation for even greater capabilities to successfully meet the increasing demands for digital transformation in Germany.”

“The structural change in the healthcare system is well underway. One of the key challenges is the consistent and sustainable digitalization of this sector. With the acquisition of the HBSN Group, ]init[ is expanding its presence in regulated markets and further driving digital transformation in this area,” says Dr. Ruprecht Puchstein, Principal at EMERAM Capital Partners. “It is a central part of ]init[‘s strategy to transfer the existing expertise in the public sector to other regulated industries – a process that has been significantly accelerated by this acquisition.”

About ]init[ AG für digitale Kommunikation
]init[ AG für digitale Kommunikation is a leading expert for digitalization for the public sector and regulated markets. Founded in 1995, the company employs approximately 1,400 people across its locations in Berlin, Hamburg, Cologne, Leipzig, Munich, and Mainz. Additional subsidiaries of ]init[ AG include Swiss-based Ironforge Consulting AG, with offices in Bern and Zurich, as well as ]init[.DCP – Digital Communication Portugal, Unipessoal Lda in Porto. For more information, visit www.init.de.

About HBSN Group
Over the past 18 years, HBSN Group has developed into a successful consulting and technology partner in the healthcare market. The group includes HBSN GmbH with its subsidiaries HBSN Certifications GmbH in Germany, and xitee k.s. as well as xitee Beteiligungs s.r.o. in the Czech Republic. The companies support university hospitals and clinics, private and statutory health insurers, medical services, public health authorities, and IT system providers in software development, IT operations, and transformation projects. With 150 employees, the HBSN Group maintains a solid network of partners at its locations in Bad Hersfeld, Braunschweig, Brno, Hamburg, Hornburg, Frankfurt am Main, Leipzig, Lüneburg, Munich, and Prague. For more information, visit www.hbsn-gruppe.de.

About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. With offices in Frankfurt am Main, Amsterdam, Brussels, Zug and Milan, funds advised by Rivean Capital manage more than €5bn in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. For more information, visit www.riveancapital.com.

About EMERAM
EMERAM is one of the leading investment managers for investments in mid-sized companies in the German-speaking region. The funds advised by EMERAM provide more than 800 million euros in capital for the development of growth companies. The investment strategy focuses on the sectors Digital Transformation, Health and Well-Being, as well as Energy Transition. EMERAM acts as a long-term business development partner for its portfolio companies and promotes sustainable growth (both organic and inorganic). In addition, the implementation of comprehensive ESG concepts is a key focus. For more information, visit www.emeram.com.

Contacts

Rivean Capital
Maikel Wieland (Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30

]init[ AG für digitale Kommunikation
Sascha Lansmann (Corporate Communications)
sascha.lansmann@init.de
+49 30 97006 759

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Platinum Equity Invests in R&B Wholesale Distributors

Platinum

Leading regional home appliance distributor looking to expand its reach

Transaction extends momentum of Platinum Equity’s Small Cap team

LOS ANGELES (February 4, 2025) – Platinum Equity announced today a significant investment in R&B Wholesale Distributors, Inc., a leading distributor of home appliances in the southwestern United States.

Financial terms of the transaction were not disclosed.

Headquartered in Ontario, California, R&B was founded in 1968 by Bob Burggraf and is a leading distributor of major home appliances in California, Arizona, Nevada, and New Mexico.

“Platinum has a lot of experience helping founder-led businesses sustain their culture while leveraging our operational expertise and M&A capabilities to maximize their potential.”

Jacob Kotzubei, Co-President, Platinum Equity

The company carries one of the largest selections of appliance brands in the industry, with an emphasis on kitchen and laundry products, including refrigerators, ranges, dishwashers, and washer and dryers. The company sells primarily through the dealer, builder, and property management channels and serves the multi-family, single-family, and light commercial end markets.

“R&B has built an impressive, diversified business over the past 57 years with an opportunity to expand its reach and increase its scale,” said Platinum Equity Co-President Jacob Kotzubei. “We have tremendous respect for everything the Burggraf family has achieved and appreciate the entrepreneurial spirit that continues to drive the company today. Platinum has a lot of experience helping founder-led businesses sustain their culture while leveraging our operational expertise and M&A capabilities to maximize their potential.”

The Burggraf family retained a minority ownership stake in the company and R&B executives Connie Espina and Chris Burggraf will continue to lead the business.

“I am proud of the legacy we have built over the years and of the hard work of so many dedicated employees that have contributed to our success,” said Bob Burggraf. “Joining forces with Platinum will provide us with additional financial and operational tools, enabling us to continue to grow with both our valued customers and suppliers and to preserve our legacy for generations to come.”

The R&B investment was led by Platinum Equity’s Small Cap team.

“R&B is a well-established distribution platform that offers an impressive product range, high-touch sales support, and flexible delivery and installation in order to provide the highest quality services to customers,” said Platinum Equity Managing Director Dan Krasner. “We believe that further investing in the company’s go-to-market capabilities, technology, and footprint will position us well for continued success. We look forward to partnering with the company’s leadership team to grow the business organically and through prospective M&A.”

Raymond James & Associates served as financial advisor to the Burggraf family and Nelson Mullins served as the family’s legal counsel on the investment by Platinum Equity.

Massumi + Consoli served as legal counsel to Platinum Equity on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions.

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Green Mobility Holding Acquires LeaseMyBike, a Leading Provider of (E)-Bike Leasing in Austria

Rivean

Expansion into Austria:

  • Strengthening its position in the DACH region with the support of Rivean Capital
  • Founder-led innovator joins forces with GMH Group

Munich/Sankt Marienkirchen (Austria). Green Mobility Holding (GMH) is continuing the European consolidation within the (e)-bike leasing sector by acquiring Pinoma Holding, the parent company of one of Austria’s market leaders LeaseMyBike. This marks the fifth acquisition in the bike leasing industry for GMH. Pinoma Holding encompasses LeaseMyBike, its in-house insurance agency Pinoma Protection, and the used bike dealer e-action.

LeaseMyBike was founded in 2021 within the framework of an independent bike dealership and has quickly established itself as a market pioneer. The combination of local identity, industry expertise, and customer-focused, efficient processes has resulted in high customer satisfaction and significant revenue growth. Strategic initiatives such as establishing an insurance agency and specializing in used bikes from leasing contracts have positioned the business for long-term success. The merger with Green Mobility Holding supports LeaseMyBike’s aspiration to achieve long-term market leadership while maintaining its Austrian roots.

“We have been in a collaborative exchange with LeaseMyBike since their first year of business,” says Maximilian Acht, CEO of GMH. “The founder-led structures and the team’s innovative spirit are a perfect fit for our internationally expanding group. In the coming months, cross-border collaboration will generate substantial added value, especially for our customers and partners.”

“This merger offers us tremendous potential for the future,” adds Gerhard Mayrhofer, Managing Director of Pinoma Holding. “By joining GMH, we can not only better serve our international clients but also extend our well-known growth momentum to newer business areas. Our goal is to deliver optimized, customer-centric services with attractive terms. The synergies with GMH will greatly help us achieve this objective.”

“The goal of Green Mobility Holding is to internationalize its digital business model through acquisitions and establish a Pan-European corporate group. Since Rivean Capital’s investment in 2023, GMH has already successfully entered the Belgian market. Now Austria is being added as another attractive market. We will continue to support the company on this growth path to the best of our ability with expertise and capital,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital.

Gerhard Mayrhofer will retain a minority stake in the group and, together with his wife Ann-Kathrin Mayrhofer, will continue to lead the Austrian operations and further expand its market-leading position.

Weblinks:
http://greenmobilityholding.com
https://pinoma.at
https://company-bike.com/
http://mein-dienstrad.de
http://o2o.be
http://ubike.be

About GMH
Green Mobility Holding GmbH is one of Europe’s leading technology-based (E)-bike leasing groups. It unites independent brands with innovative product offerings under one roof, creating unique solutions for businesses of all sizes through shared synergies. With over 400 employees, the group operates in more than 15 locations.

About Rivean Capital
Rivean Capital is a leading European private equity investor specializing in mid-market transactions in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage assets exceeding €5 billion. Since its founding in 1982, Rivean Capital has supported over 250 companies in achieving their growth ambitions.

For more information, visit www.riveancapital.com

Media Contacts:

Rivean Capital
Maikel Wieland
Head of Investor Relations
Email: m.wieland@riveancapital.com

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Clearstead Advisors Announces Acquisition of Waveland Family Office

Flexpoint Ford
Clearstead Advisors, LLC (“Clearstead”), a rapidly growing registered financial advisor (“RIA”), has acquired the assets of Waveland Family Office LLC, a wealth management firm based in northern suburban Chicago, Illinois with approximately $420 million in assets under management.The deal was signed in early January and closed on January 31. Waveland provides holistic family office services to high-net-worth families, including financial and estate planning, investment management, and tax planning and compliance. Waveland’s six employees will join the Clearstead team and adopt the Clearstead name, with Waveland principals Allen C. Berg and Dennis Zaslavsky joining as equity partners.

The acquisition continues Clearstead’s rapid growth trajectory by establishing a new presence in Chicago and further developing Clearstead as a nationally recognized RIA. Upon closing, Clearstead and its subsidiaries will have approximately $47 billion in total assets under advisement,* including $22 billion in total assets under management*, more than 270 employees and 12 offices.

“Joining Clearstead is a major step forward for Waveland as we continue to better serve our clients with differentiated financial advising, tools and resources,” said Mr. Berg. “Clearstead’s rapid growth in the industry and sizeable presence in regional markets will give Waveland strength and capabilities as we seek to grow with high-net-worth families in new ways.”  Mr. Zaslavsky added “We have worked with Clearstead as a sub advisor since the inception of Waveland Family Office, LLC and are excited to continue our relationship as we together build out the Chicago market.”

“We welcome Waveland to the One Clearstead family as an important new addition to our Midwest footprint,” said Brad Knapp, president and CEO of Clearstead. “Their ability to offer comprehensive tax planning and compliance services aligns perfectly with our One Clearstead model.”

“Their impressive list of clients and skilled financial advisors made them a perfect fit into our team. We consider this an investment in the Chicago market where we intend to continue to grow our presence.”

Founded in 1989 with its headquarters in Cleveland, Ohio, Clearstead serves individual and family clients – integrating tax, planning, and family office services with investment management – in addition to hundreds of endowments and foundations, retirement plans, colleges and universities, and hospitals.

In 2022, Clearstead received a majority equity investment from Flexpoint Ford, a private equity firm specializing in financial services and healthcare investments. Since then, the firm has continued to grow organically and through acquisitions and liftouts. Recent acquisitions and expansions include Wilbanks, Smith & Thomas, LLC (“WST”); Baldwin Advisory; Burkhart & Co. and Snow Financial Advisors, both Cleveland-based wealth managers; Avalon Trust, a Santa Fe, New Mexico financial advisor; CLS Consulting, a provider of family trust company services to ultra-high net worth clients; and a seasoned team of advisors in Hudson, Ohio.

About Clearstead Advisors LLC

Founded in 1989, and headquartered in Cleveland OH, Clearstead is an independent financial advisory firm serving wealthy families and large institutions across the country. As a fiduciary, it provides wealth management services and investment consulting to enable clients to meet their financial objectives, achieve their aspirations, and build strong futures. Learn more at: https://www.clearstead.com

About Waveland Family Office LLC

Founded in 2023, Waveland Family Office, LLC is a Registered Investment Advisor and successor to firms founded by Allen C. Berg going back to 2002 that specializes in providing advisory services to high-net-worth individuals and families. The firm offers a range of family office services including investment advisory, tax planning and compliance, and financial and estate planning.

* AUA and AUM is as of the most recent 2024 SEC filing.  AUA includes the assets of Clearstead Trust and Avalon Trust, which are not registered with the SEC.

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