Category Archives: News

]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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Coller Capital launches Australia’s first private credit secondaries fund

Coller Capital

ebruary 3, 2025 – Coller Capital, the largest dedicated secondaries manager, has launched Coller Private Credit Secondaries (the Fund) in Australia.

The Fund, the first of its kind in Australia, offers high net worth investors[1] access to Coller’s proven expertise and innovative approach to private credit secondaries.

Partner and Head of Coller Credit Secondaries, Michael Schad said, “This new fund reflects our leadership in developing next-generation investment solutions and is an exciting step in providing individual investors with access to credit secondaries, previously only available to institutional investors. Our pioneering role in credit secondaries since 2007 positions us uniquely to deliver meaningful results for our investors.”

Head of Australia and New Zealand Private Wealth Distribution, David Hallifax added, “Private wealth investors increasingly recognise the value of fixed-income alternatives, and private credit secondaries present a compelling opportunity.

“Australian high net worth investors will now have access to a global platform that combines decades of secondaries expertise with a deep understanding of private credit markets.”

The Fund seeks to deliver a combination of absolute and risk-adjusted returns, diversification, and the opportunity for more liquidity than traditional private credit funds. It will provide private investors with exposure to Coller Capital’s 34 years of secondaries investment expertise and global platform.

Coller Capital continues its strategic expansion into the private wealth market globally, including in Australia. Coller established an office in Melbourne in 2024 and launched the Private Equity Secondaries Fund in Australia for the private wealth channel in October 2024.

 

[1] The offer of units in the Fund is available to wholesale clients as defined in the Corporations Act 2001 (Cth) residing from within Australia and/or New Zealand.

Important disclosure information

Equity Trustees Limited (ABN 46 004 031 298, AFSL 240975) (“Equity Trustees”) is the responsible entity for the Coller Private Credit Secondaries Fund (ARSN 682 162 447) (“Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).

Coller Capital Limited (“Coller Capital”) is the investment manager of the Fund. References to “we”, “us” and “our” are references to Coller Capital.

The offer of units in the Fund is available to wholesale clients as defined in the Corporations Act 2001 (Cth). The offer must only be accessed from within Australia and/or New Zealand. The offer is not being extended to persons who do not meet these criteria, and no action has been taken to register or qualify the offer in any jurisdiction outside Australia and/or New Zealand.

The information on this website has been prepared by Coller Capital. The information is general information and not financial advice, and has been prepared without taking into account the objectives, financial situation or needs of any particular person. You should consider the Product Disclosure Statement for the Fund before making a decision about whether to invest. If you require financial advice that takes into account your personal objectives, financial situation or needs, you should consult a licensed or authorised financial adviser.

Neither Coller Capital nor Equity Trustees, nor any of their respective related parties, employees or directors, represents or warrants that the information contained on this website is accurate or reliable. To the maximum extent permitted by law, no such person shall be liable for loss or damage as a result of reliance on the information contained on this website. The value of an investment can rise and fall and past performance should not be taken as an indicator of future performance.

View the Fund’s Target Market Determination. The Target Market Determination is a document which is required to be made available from 5 October 2021. It describes the class of consumers that the Fund is likely to be appropriate for (i.e. the target market), and any conditions around how the Fund can be distributed to investors. It also describes the events or circumstances that mean the Target Market Determination for the Fund may need to be reviewed.

To view the privacy policy for Equity Trustees visit their website.

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Precision Coating, a Katahdin Company, Acquired by Integer

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Ampersand

Hudson, MA – February 4, 2025 – Katahdin Industries, LLC is pleased to announce the sale of substantially all of the assets of Precision Coating to Integer Holdings Corporation. The transaction closed on January 7, 2025. Precision Coating provides global Medtech customers with innovative products and services to enhance the surface functionality of patient-critical products.

Since 2006, Precision Coating has built a highly specialized proprietary coatings platform in the medical technology supply chain. The portfolio build, positioning and growth trajectory was accelerated through five acquisitions including CHN Metal Finishing (2008), Medi-Solve (2008), Boyd Coatings Research (2015), a merger with N2 Biomedical (2021), and Providence Texture (2023). A nearly ten-fold increase in scale over the hold period was further facilitated by investments in data systems, automation, materials development, and greenfield expansion in Costa Rica. The company currently operates out of four North American sites and one in Costa Rica.

“From the very beginning, we identified precise control over surface treatment as a key feature in the medical device manufacturing process,” commented Tim Cabot, Chairman of Katahdin. “We also saw a gap in the market to address unique coating-as-a-service needs for medical device customers and to position the company to become a fully capable contract manufacturing services provider for the full life cycle of each product we work on. Over time our market focus has also allowed us to expand and enhance our specialized, high-value, and innovative application solutions, including GlideLine™, our proprietary fluoropolymer coatings for medical devices; MICRALOX®, our patented anodic coatings for re-usable medical instruments; and IonGuard®, our proprietary ion treatment for implants.”

Bill Ellerkamp, President of Precision Coating, added, “We are very excited about the acquisition of Precision Coating by Integer. We are proud of the strong and defensible position we’ve built in the proprietary coatings segment of the Medtech industry and the exceptional company culture we’ve created. Integer is uniquely positioned to capitalize on the strengths of our technologies and our respective cultures are well aligned. We are confident in the future of Precision Coating as part of Integer.”

Piper Sandler & Co. served as exclusive financial advisor to Katahdin and Ruberto, Israel, & Weiner, P.C. served as legal advisors.

 

About Katahdin

Katahdin Industries, LLC is a closely held investment corporation with both individual and institutional ownership. Following Katahdin’s 2021 merger with N2 Biomedical, Ampersand Capital Partners became a minority shareholder and provided strategic guidance cultivated from a deep history of investing in medical contract design and manufacturing organizations. Tim Cabot and Bob DeAngelis led the original acquisition and company build out through 2018 when Bill Ellerkamp became President of Precision Coating. Additional information about Precision Coating is available at www.precisioncoating.com.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow us on LinkedIn.

About Integer®

Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMO) in the world, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. As a strategic partner of choice to medical device companies and OEMs, the Company is committed to enhancing the lives of patients worldwide by providing innovative, high-quality products and solutions. The Company’s brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net

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Wessels Bouwgroep teams up with Bencis

Bencis

Bencis Capital Partners is pleased to announce that on December 20, 2024, it signed a partnership agreement with Wessels Bouwgroep, a leading Dutch company specializing in sustainable construction, renovation, and maintenance of facades and roofs.

The investment will be carried out by Bencis Buyout Fund VI GP B.V. The current shareholders and management of Wessels Bouwgroep will invest alongside Bencis and will stay actively involved in the company. The transaction is expected to be completed in the first quarter of 2025, subject to approval by the Dutch Authority for Consumers & Markets (ACM) and other customary conditions.

Founded in 1968, Wessels Bouwgroep is a prominent player in the construction sector with expertise in sustainable solutions for building exteriors. The group operates through multiple specialized subsidiaries across the Netherlands, focusing on facades and roofing systems.

Statement from Wessels Bouwgroep
Erwin Wessels, CEO at Wessels Bouwgroep stated:  “We are delighted to have Bencis as our new shareholder. Bencis has the entrepreneurial profile we were looking for, as well as the knowledge and experience to further grow and professionalize while maintaining strong brands and local entrepreneurship. We are therefore very much looking forward to our future collaboration.”

Statement from Bencis
Renske Vriend, Managing Director at Bencis, stated: “We are delighted to partner with Wessels Bouwgroep. This company is a leading player in property maintenance, transformation, and renovation, with a strong focus on roofs and facades. This acquisition perfectly aligns with our strategy to collaborate with successful companies with growth potential. Wessels’ expertise in sustainable construction solutions and strategic acquisitions makes them an ideal partner. Together, we aim to accelerate their growth and further strengthen their position as a market leader.”

Transaction Advisors
Hemingway Corporate Finance acted as the sell-side advisor. Bencis was advised by Deloitte (financial), Roland Berger (commercial), DLA Piper (legal), and Atlas Tax Lawyers (tax).

About Bencis
Bencis is an independent investment company founded in 1999. The company supports entrepreneurs and management teams in realizing growth ambitions and invests in successful businesses in the Netherlands, Belgium, and Germany. With offices in Amsterdam, Brussels, and Düsseldorf, Bencis combines extensive experience in growth, acquisitions, and sustainable business practices. Their focus is on strengthening businesses and supporting the teams that drive their development.

About Wessels Bouwgroep
Wessels Bouwgroep, established in 1968, is a multidisciplinary organization providing high-quality roofing and facade solutions. Its subsidiaries operate in both residential and non-residential construction, a market characterized by growing demand and limited capacity. More information is available at www.wesselsbouwgroep.nl.

Contact Information
For more information, please contact:

Bencis Capital Partners
Renske Vriend
+316 20 63 57 85
rvriend@bencis.com

Wessels Bouwgroep
Erwin Wessels
+31 50 44 21 72 23
e.wessels@vakbouwers.nl

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MCK and CDPQ partner to finance renewable energy infrastructure projects

Cdpq

The Mohawk Council of Kahnawà:ke (MCK) and CDPQ are pleased to announce the creation of a financial and strategic partnership to jointly invest in renewable energy infrastructure projects. The partnership aims to facilitate access to funding for the MCK and other Indigenous communities interested in taking part in the implementation of these projects in Québec.

In addition to easing access to funding and contributing to the success of projects, the MCK and CDPQ will seek to position communities at the heart of project development by promoting their long-term participation. As co-investors, the two organizations will also provide close oversight to foster a sustainable and inclusive development approach.

Together, the two organizations plan to:

  • Establish and strengthen partnerships based on trust and an alignment of interests, as well as the social acceptability of projects
  • Provide the technical capacity communities need to negotiate complex agreements and analyze the financial terms of large-scale projects
  • Propose an innovative solution that allows communities to participate and gives them access to sufficient capital to hold a stake in projects

“For over a century, major energy infrastructure projects have impacted Indigenous peoples’ rights and lands. We believe the time is right for our communities to participate in the energy transition by owning and benefiting from energy infrastructure on our ancestral lands,” said Ohén:ton Í:rate ne Ratitsénhaienhs (Grand Chief) Cody Diabo, Grand Chief of the MCK. “We have developed this partnership to provide the economic opportunity for First Nations and Inuit communities to maximize their stake in large-scale energy infrastructure on their lands, and benefit from the revenues generated.”

“In Québec, numerous renewable energy projects will cross traditional Indigenous territories, which presents an opportunity to foster the financial participation of the communities involved and ensure that the partners’ priorities are well aligned,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “We are delighted to be working with the Mohawk Council of Kahnawà:ke in this partnership to fund renewable energy infrastructure projects, which reflects our commitment to supporting sustainable and inclusive development initiatives while contributing to Québec’s energy transition.”

The MCK will engage with interested Indigenous communities that wish to explore this opportunity to meet their capital needs. The MCK and CDPQ are collaborating to identify projects where this investment solution can be implemented.

ABOUT THE MOHAWK COUNCIL OF KAHNAWÀ:KE

The MCK is the First Nations governing body for the Mohawks of Kahnawà:ke. In addition to providing essential services within the Mohawk Territory of Kahnawà:ke, the MCK engages in socioeconomic initiatives that reflect the community’s rights and environmental values. The MCK is actively involved in renewable energy investments, including the 24 MW Des Cultures wind farm, the 147 MW Les Jardins wind farm, and the 58 km Hertel-New York Interconnection Line, reinforcing its commitment to sustainable development and economic self-determination.

ABOUT CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

– 30 –

For more information

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TRIUMPH to be Acquired by Affiliates of Warburg Pincus and Berkshire Partners in an All-Cash Transaction Valued at Approximately $3 Billion

Warburg Pincus logo

TRIUMPH Shareholders to Receive $26.00 in Cash Per Share

RADNOR, Pa. and NEW YORK and BOSTON, Feb. 3, 2025 /PRNewswire/ — Triumph Group, Inc. (NYSE: TGI) (“TRIUMPH” or the “Company”) today announced that it has entered into a definitive agreement under which affiliates of growth-focused private equity firms Warburg Pincus and Berkshire Partners will acquire TRIUMPH through a newly formed entity for a total enterprise value of approximately $3 billion. Upon completion of the transaction, TRIUMPH will become a privately held Company, jointly controlled by Warburg Pincus and Berkshire Partners.

Under the terms of the agreement, TRIUMPH shareholders will receive $26.00 per share in cash. The purchase price represents a premium of approximately 123% over the Company’s unaffected closing stock price1 and a premium of approximately 58% over the volume weighted average price (VWAP) of TRIUMPH common stock for the 90 days prior to January 31, 2025.

“We are pleased to have reached this agreement, which reflects the culmination of the Board’s robust process and will deliver immediate, certain and premium cash value to our shareholders,” said Dan Crowley, TRIUMPH’s chairman, president and chief executive officer. “Over the last few years, TRIUMPH successfully optimized our portfolio, built around a world class team and capabilities. This transaction recognizes our Company’s position as a valued provider of mission-critical engineered systems and proprietary components for both OEM and aftermarket customers. As a privately held company in partnership with Berkshire Partners and Warburg Pincus, TRIUMPH will have an enhanced ability to meet our customers’ evolving needs and provide more opportunities for our valued employees.”

“TRIUMPH has a strong reputation as a leader in highly engineered aerospace components and systems, and we are excited about partnering with them in this next chapter of growth,” said Dan Zamlong, Managing Director at Warburg Pincus. “With our deep experience investing in and developing aerospace platforms, we look forward to working with TRIUMPH’s talented global team to increase opportunities for its portfolio and capture the growing demand for high quality aerospace components.”

“TRIUMPH plays a critical role in the aerospace and defense industry and is known for providing high quality products on key platforms. Berkshire has a long history of partnering with market-leading aerospace companies, and we look forward to helping accelerate the next phase of TRIUMPH’s growth,” added Blake Gottesman, Managing Director at Berkshire Partners.

Timing and Approvals
The transaction is expected to close in the second half of calendar year 2025 and is subject to customary closing conditions, including approval by TRIUMPH shareholders and receipt of required regulatory approvals. TRIUMPH’s Board of Directors unanimously approved the definitive agreement. The transaction is not contingent upon financing. Upon completion of the transaction, TRIUMPH will no longer be traded on the New York Stock Exchange.

Third Quarter Fiscal 2025 Earnings
In connection with its pending transaction, TRIUMPH will release its third quarter fiscal 2025 earnings and file its Form 10-Q by February 10, 2025, as planned, and is cancelling its previously scheduled earnings conference call and webcast.

Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to TRIUMPH. Lazard is serving as financial advisor and Kirkland & Ellis LLP and Covington & Burling LLP are acting as legal counsel to Berkshire Partners and Warburg Pincus.

About TRIUMPH
Founded in 1993 and headquartered in Radnor, Pennsylvania, TRIUMPH designs, develops, manufactures, repairs and provides spare parts across a broad portfolio of aerospace and defense systems and components. The Company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about TRIUMPH can be found on the Company’s website at www.triumphgroup.com.

About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity. The firm’s private equity team invests in well-positioned, growing companies across business & consumer services, healthcare, industrials, and technology & communications. Berkshire is currently investing from its Fund XI, which held its final closing in 2024 with approximately $7.8 billion in commitments. Since inception, Berkshire Partners has made more than 150 private equity investments and has a strong history of collaborating with management teams to grow the companies in which it invests. For additional information, visit www.berkshirepartners.com.

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 been an active investor in the aerospace & defense and industrial technology sectors with current and former investments including Accelya, Aquila Air Capital, CAMP Systems, Consolidated Precision Products, Duravant, Extant Aerospace, Infinite Electronics, Inmarsat, iNRCORE, Quest Global, Sundyne, TransDigm and Wencor Group. 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.

Forward-Looking Statements
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid and information currently available to management. They can be identified by the use of words such as “may,” “might,” “anticipate,” “plan,” “believe,” “potential,” “intend,” “expect,” “strategy,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following risks: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (ii) the risk that the Company’s stockholders may not approve the proposed transaction; (iii) inability to complete the proposed transaction because, among other reasons, conditions to the closing of the proposed transaction may not be satisfied or waived; (iv) uncertainty as to the timing of completion of the proposed transaction; (v) potential adverse effects or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; (vi) potential litigation relating to the proposed transaction that could be instituted against the Company, Titan BW Acquisition Holdco Inc. (the “Buyer”) or their respective directors and officers, including the effects of any outcomes related thereto; or (vii) possible disruptions from the proposed transaction that could harm the Company’s or Buyer’s business, including current plans and operations. Further information regarding the important factors that could cause actual results to differ from projected results can be found in the Company’s reports filed or that may be filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended June 30, 2024 and September 30, 2024.  Any forward-looking information provided in this document should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this document.

Important Additional Information and Where to Find It
In connection with the proposed transaction between the Company and Buyer, the Company intends to file relevant materials with the SEC, including a preliminary proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the proxy materials to each stockholder entitled to vote at the special meeting relating to the proposed transaction. This communication is not a substitute for the proxy statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the proposed transaction. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or at the Company’s website (https://www.triumphgroup.com/investor-relations) or by contacting the investor relations department of the Company.

Participants in the Solicitation
The Company and its directors and executive officers, including Daniel J. Crowley, Chairman, President and Chief Executive Officer, Barbara Humpton, Colleen C. Repplier, Courtney Mather, Cynthia M. Egnotovich, Daniel P. Garton, Mark C. Cherry, Neal J. Keating, Partrick Allen, all of whom are members of the Company’s Board of Directors, as well as James McCabe, Senior Vice President and Chief Financial Officer, Jennifer Allen, Chief Administrative Officer, Senior Vice President, General Counsel and Secretary, Thomas Quigley, Vice President, Investor Relations, Mergers & Acquisitions & Treasurer, Kai Kasiguran, Vice President, Controller may be deemed to be participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed transaction. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Security Ownership of Principal Stockholders and Management,” “Board of Directors—Director Compensation,” and “Compensation Discussion and Analysis” contained in the Company’s proxy statement on Schedule 14A filed with the SEC on June 24, 2024. To the extent that the Company’s directors and executive officers and their respective affiliates have acquired or disposed of security holdings since the applicable “as of” date disclosed in the 2024 Proxy Statement, such transactions have been or will be reflected on Statements of Change in Ownership on Form 4, Initial Statements of Beneficial ownership on Form 3, or amendments to beneficial ownership reports on Schedules 13D filed with the SEC: Form 4, filed by Kai W. Kasiguran, with the filings of the Company on September 3, 2024; Form 4, filed by Colleen C. Repplier, with the filings of the Company on August 12, 2024; Form 4, filed by Courtney Mather, with the filings of the Company on August 12, 2024; Form 4, filed by Neal J. Keating, with the filings of the Company on August 12, 2024; Form 4, filed by Daniel P. Garton, with the filings of the Company on August 12, 2024; Form 4, filed by Barbara Humpton, with the filings of the Company on August 12, 2024; Form 4, filed by Cynthia M. Egnotovich, with the filings of the Company on August 12, 2024; Form 4, filed by Patrick E. Allen, with the filings of the Company on August 12, 2024; Form 3, filed by Mark C. Cherry, with the filings of the Company on August 12, 2024 and Form 4, filed by Mark C. Cherry, with the filings of the Company on August 9, 2024.

Information regarding the identity of the potential participants, and their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the proposed transaction. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the Company’s website at https://www.triumphgroup.com/investor-relations.

1of $11.65 per share as of the close on October 9, 2024, the last full trading day prior to media reports regarding a possible sale transaction

SOURCE Triumph Group

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EQT completes sale of common stock of Kodiak Gas Services pursuant to Rule 144

eqt

The sale resulted in gross proceeds of c. USD177 million

An affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (“EQT”) is pleased to announce the completion of the sale (the “Sale”) of c. 3.7 million shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”) for gross proceeds of c. USD177 million. The Sale was made on January 30, 2025, pursuant to Rule 144 of the Securities Act of 1933, as amended. Goldman Sachs & Co. LLC acted as the broker for the Sale.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About Kodiak
Kodiak is the largest contract compression services provider in the United States, serving as a critical link in the infrastructure that enables the safe and reliable production and transportation of natural gas and oil. Headquartered in The Woodlands, Texas, Kodiak provides contract compression and related services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi-well gas lift applications and natural gas transmission systems.

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