Category Archives: News

Latour acquires BS Tableau GmbH

Latour logo

Investment AB Latour (publ) has, through its wholly-owned subsidiary Latour Industries AB, acquired 100 per cent of the shares in BS Tableau GmbH, based in Zülpich, Germany.

BS Tableau is a German leading manufacturer of components for elevators. The company, founded in 1995, manufactures and sells bespoke fixtures for elevator cabins and a broad range of electronic components to lift operators and OEMs, mostly targeting modernization projects. Net sales amounts to approximately EUR 6 m, of which the majority is sold in the German market. The company has 40 employees.

“We are very happy to welcome BS Tableau to Latour Industries. The company offers high-quality products, has long-standing customer relationships, and is a strong addition to our portfolio of companies in the same sector. We look forward to collaborating with all employees and to growing and developing the company further”, says Björn Lenander, CEO Latour Industries.

“I am confident that the company will benefit from Latour’s industrial experience, long-term orientation, and responsible ownership model. I am certain that this will benefit our customers and employees”, says Rainer Bunk, CEO and co-founder of BS Tableau.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group increases to almost SEK 11.8 billion compared to the net debt level at the end of September 2023, all else equal.

Göteborg, 9 January, 2024

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Niclas Nylund, Investment Director Latour, +46 708 17 35 85

Latour Industries consists of a number of holdings, each with its own business concept and business model. The ambition is to develop the holdings within the business area to eventually become new independent business areas within the Latour Group. Latour Industries has an aggregated annual turnover of SEK 4 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 76 billion. The wholly-owned industrial operations has an annual turnover of SEK 26 billion.

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Cinven raises $14.5 billion for the Eighth Cinven Fund

Cinven
  • Cinven has achieved the hard cap for the Eighth Cinven Fund, raising $14.5 billion (€13.2 billion)
  • Fund 8 is nearly 30% larger than its 2019 vintage predecessor fund, Fund 7
  • Cinven benefitted from a strong re-up rate from its longstanding Limited Partners, and welcomed a number of new investors to its global Limited Partner base
  • The success of Cinven’s fundraise was underscored by the strength of its long-term track record that has returned proceeds of c. €47 billion to the Cinven Funds; the depth and experience of its team; and the consistency of its strategy of building long-term, sustainable businesses with global growth opportunities

International private equity firm Cinven announces the final close of its latest flagship fund, the Eighth Cinven Fund (‘Fund 8’), having raised $14.5 billion (€13.2 billion) and reached the hard cap. Fund 8 is nearly 30% larger than its 2019 vintage predecessor fund, Fund 7, for which Cinven also reached the hard cap.

 

Over the course of its almost 50-year history, Cinven has focused on building world class companies using its sector expertise. Cinven has built deep, embedded local networks across Europe and has a growing presence in North America. Cinven’s international team works closely together in a Sector-Regional approach to execute its proven investment strategy to create strong and stable returns for its investors. Cinven’s ‘one team’ culture is fundamental to the firm’s values, philosophy and ethos, and the success of the Fund 8 raise demonstrates the continued strong support by Cinven’s Limited Partners for its team and investment approach.

 

Stuart McAlpine, Managing Partner of Cinven, said:

 

“Cinven has a long and proven track record of delivering strong and consistent performance to our investors. Our strategy for Fund 8 builds on the approach we have successfully deployed for previous Cinven Funds, investing in control positions in growth-oriented, market leading, cash generative companies with resilient characteristics where we can accelerate growth through our active management, and deliver break-out returns. We are very grateful to our Limited Partners for their continued support, and believe the investment opportunity for Fund 8 is very compelling.”

 

Alexandra Hess, Partner of Cinven and Head of Investor Relations, added:

 

“We greatly appreciate the support for Fund 8 that we have received from both longstanding and new investors. With their support, we have been able to complete another successful fundraise despite the difficult market backdrop. We believe market environments such as these support successful fund vintages for investors; particularly given Cinven’s experience identifying attractive opportunities across sectors and geographies in periods of volatility.”

 

Cinven seeks to build long-term, sustainable businesses which will grow, provide employment and generate economic benefit in an environmentally and socially responsible manner. At its core is a long and proven track record of investing successfully through economic cycles.

 

The Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America, realised or listed more than 115 investments and returned proceeds of c. €47 billion to the Cinven Funds.

 

Originally founded as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995; raised its first Fund in 1996; and has raised Funds of more than €50 billion in aggregate to date.

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EQT introduces the EQT Healthcare Growth Strategy, a dedicated healthcare buyout strategy, with the acquisition of life sciences tools company Mabtech

eqt
  • The new EQT Healthcare Growth Strategy builds on EQT’s 30-year healthcare track record and will focus on scaling innovative, fast-growing healthcare companies to help deliver positive outcomes across the value chain
  • By helping companies build commercial muscle and expand their global reach, the Strategy aims to enable the development of medical research, diagnostics, tools and treatments to deliver more effective, efficient and accessible healthcare
  • Mabtech is a leading provider of high-quality antibody tools and kits, used predominantly for vaccine, infectious diseases, and oncology research, based in Sweden. EQT Healthcare Growth will support Mabtech as it expands its product portfolio and reach, especially in the US

EQT is excited to introduce the EQT Healthcare Growth Strategy(or the “strategy”) and announce its first investment, Mabtech, which is being acquired from the IK Small Cap II Fund.

Introducing the EQT Healthcare Growth Strategy
Long-term trends – such as growing, aging, and less healthy populations, significant unmet medical needs, and rising healthcare costs – are leading to a greater need for better, more efficient, and accessible healthcare. At the same time, scientific breakthroughs and advancements in technology and data are accelerating healthcare innovation. This is increasing the opportunity to invest in innovative and differentiated products and services that seek to deliver positive outcomes across the value chain. The opportunity is particularly compelling in Europe, where there are a growing number of companies in need of capital, expertise, and global reach to help them scale and unlock their full growth potential.

Against this backdrop, EQT is introducing the EQT Healthcare Growth Strategy. The buyout strategy will apply EQT’s active ownership approach and invest in the same healthcare subsectors that the firm has invested in for 30 years. The dedicated Advisory Team is led by Maarten de Jong, who joined EQT earlier this year from Moelis & Company, where he led the expansion of its healthcare franchise. The EQT Healthcare Growth Advisory Team includes three further partners: Geraldine O’Keeffe, joining from EQT Life Sciences, Isabel de Paoli, joining from EQT Private Equity and previously Chief Strategy Officer at Merck KG, and Mark Braganza, who recently joined from Sun European Partners and was previously at GHO and TPG, where he focused on healthcare investing.

Maarten de Jong said: “I’m delighted to have joined EQT to establish and lead the EQT Healthcare Growth Strategy, alongside a fantastic team. The new strategy will invest in innovative, fast-growing, proven healthcare companies, predominantly based in Europe. Applying EQT’s proven approach and leveraging its global network, we will help these companies build their commercial muscle and expand their global reach. In doing so, we seek to generate attractive risk-adjusted returns for clients while scaling positive outcomes across the healthcare value chain.”

Mabtech becomes the EQT Healthcare Growth Strategy’s first investment
Mabtech is a category leading provider of tests and kits for studying immune responses predominantly in vaccine, infectious diseases, and oncology research. Based in Sweden, it has over 900 customers in more than 60 countries. Its products and services are focused on critical and often irreplaceable techniques used in antibody-based immunology research processes, particularly ELISpot and FluoroSpot kits. The market for these kits is accelerating, on top of the broader oncology, immunology and vaccines-related research market that is also growing.

Commenting on the acquisition of Mabtech, responsible Partner Isabel de Paoli said: “This is a high-quality player with deep technical and scientific expertise in a growing niche market, that we have been following for many years. By offering ‘must-haves’ along the drug development value chain and building on its leading position in Europe, Mabtech is well-placed to expand its scale and reach, especially in the US. This is an ideal example of the kind of company that the EQT Healthcare Growth Strategy seeks to continue investing in: it’s a fast-growing European champion with innovative, proven solutions that drive positive healthcare outcomes. We look forward to working with Jan Wahlström and team to help Mabtech reach its full growth potential.”

The EQT Healthcare Growth Strategy builds on EQT’s 30-year track record
The strategy is fully integrated into and benefits from the broader EQT Private Capital platform and global healthcare sector vertical. Combining the deep scientific expertise and ability to identify emerging trends of EQT Life Sciences with EQT Private Equity’s value creation playbook and prior experience in high-growth, mid-market buyouts, the strategy is well placed to identify and support healthcare companies on their mission to scale rapidly and deliver positive healthcare outcomes.

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare Sector Team, added: “The introduction of the EQT Healthcare Growth Strategy builds on EQT’s three decades of healthcare experience. To date, we have invested over EUR 23 billion in more than 200 companies, from early-stage to buyout. Today, we have a healthcare team of more than 120 dedicated investment professionals across 20 countries supported by a network of approximately 150 advisors. With EQT Healthcare Growth, we’re adding the final piece to the puzzle so that we can support healthcare companies in every stage of their development. This market segment requires a unique combination of skills, and we are very proud of the caliber of team we have assembled to meet this opportunity.”

The acquisition of Mabtech is subject to customary conditions and approvals. It is expected to close in Q1 2024.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 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 Mabtech
Mabtech is a Swedish biotech company developing immunoassays for life science research. Since 1986, Mabtech’s mission has been to aid research by providing the global scientific community with innovative tools. To that end, the company generates and produces a wide range of monoclonal antibodies, kits, peptide pools, and instruments for in vitro applications.

For more information, visit https://www.mabtech.com/    

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BCS strengthens industry leadership with strategic acquisition of Online Academie

Main Capital Partners

BCS HR Software announces the successful acquisition of Online Academie, a leading software provider of learning and development solutions.

BCS HR Software, a distinguished software specialist in human resource management (“HRM”) and payroll software, proudly announces the successful acquisition of Online Academie, a leading software provider of learning and development solutions. This strategic move is in line with BCS’ strategy to support customers during the entire HR journey. The combination with Online Academie marks the sixth acquisition since the strategic partnership with Main Capital Partners in April 2022.

With over 45 years of industry experience, BCS has been a trusted partner for companies of all sizes, offering a complete HR & Payroll solution encompassing absence and payroll management, flexible benefits, employee administration, and talent management amongst others. BCS, provides its HR and payrolling solutions and services to the SME market in the Netherlands and Belgium, servicing clients such as Decathlon, Vattenfall and Argenta, as well as local governments and academic hospitals.

Online Academie, based in Berlicum, the Netherlands, specializes in supporting companies in Learning & Development, catering to a diverse range of sectors, including governmental, accounting, healthcare, and industrial. This is facilitated via an in-house developed Learning Management System called ‘mijnLMS’. The SaaS platform provides an integrated learning portal for organizations to manage and automate training processes and offers central access to in-house and third-party learning resources. Customers include Baker Tilly, RSM Netherlands, Hanos, Gemeente Tilburg and Gemeente Arnhem.

The acquisition strategically positions BCS to leverage the expertise of Online Academie in meeting the learning & development demands both profit and non-profit clients. BCS’ recent expansion into Belgium and in the talent management segment, facilitated by the acquisition of epowerhr in November 2023, aligns seamlessly with Online Academie’s Learning Management System (LMS) solutions. This strategic product expansion enables BCS to offer end-to-end tracking and monitoring of employee development, creating strong cross-sell and upsell opportunities within the existing customer base. This acquisition reinforces BCS’ commitment to innovation, positioning the company as the comprehensive partner for HRM and payroll software needs. The addition of Online Academie’s expertise marks a pivotal step forward in delivering enhanced value to clients across various sectors.

Joep Eijkens, CEO of BCS, adds: “The acquisition fits well with BCS’ long-term strategy. Being able to offer a Learning Experience Platform is a great addition to our current range of HR solutions. It was a missing link within the employee journey. As talent management and employee learning & development is becoming one of the most important aspect within the employee journey, we are delighted that we can now fully support customers in offering these essential solutions to their employees.”

Charly Zwemstra, founder and CEO of Main Capital and Chairman of the Supervisory Board of BCS, concludes: “Since our strategic partnership with BCS in 2022 we have worked towards building a sustainable software group with a leading market position in the HR & payroll software market. The acquisition of Online Academie aligns seamlessly with BCS’ existing customer base and presents opportunities for cross-selling, both for the non-profit as well as the profit segments. We will continue to support BCS in its growth journey in gaining an even stronger foothold in the HR & payroll software industry.”

The acquisition of Online Academie aligns seamlessly with BCS’ existing customer base and presents opportunities for cross-selling, both for the non-profit as well as the profit segments.

– Charly Zwemstra, founder and CEO of Main Capital and Chairman of the Supervisory Board of BCS

About

Online Academie

Online Academie, based in Berlicum, was founded in 2009 by Wim Schuurmans. Its core product ‘mijnLMS’ was designed based on best practice training processes in close collaboration with the customers and the employee as main stakeholder. Distinctive training management, a virtual learning environment, certification monitoring, capturing POP modules and microlearnings, and role-based learning are just a few solutions within the software suite.

BCS HR Software

BCS offers SMEs, corporate and non-profit organizations an integrated total HR  & Payroll software solution. BCS has over forty years of experience in providing software in the areas of payroll, time registration, workflow management, personnel planning, file management and flexible benefits, among others. Since 1978, BCS has grown into one of the largest and leading payroll processors in the Netherlands and has more than 230 employees.

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M Ventures portfolio company Calypso, a Merck spin-out, enters into agreement to be acquired by Novartis

M Ventures

Calypso is a European biotech translating Interleukin-15 biology into medical breakthroughs by developing CALY-002, an anti-IL-15 monoclonal antibody, for an array of autoimmune indications. The acquisition of Calypso gives Novartis full rights to CALY-002, a pipeline-in-a-drug with potential in dermatology, gastro-intestinal and rheumatology indications

AMSTERDAM, the Netherlands, January 08, 2024 / B3C newswire / — Calypso Biotech BV (‘Calypso’), a leader in the development of Interleukin15 (IL-15) targeted therapies, announced today that it has entered into an agreement to be acquired by Novartis AG (‘Novartis’). Calypso’s shareholders will receive an upfront payment of $250 million upon closing and are eligible to receive development milestones of up to $175 million based on the achievement of certain predetermined milestones.

Calypso, a spin-out from Merck, is focused on the research and development of monoclonal antibodies for an array of autoimmune indications, with an expertise in IL-15 biology. IL-15 is a broad, untapped immune axis that controls barrier function and downstream immune cascades in many chronic autoimmune diseases. Calypso’s lead product candidate, CALY-002, is a potential best-in-class therapeutic antibody that binds to and neutralizes Interleukin-15.

The acquisition gives Novartis full rights to CALY-002. Novartis intends to further explore CALY-002 across a wide variety of autoimmune indications with high unmet medical need. CALY-002 is currently evaluated in a Phase 1b trial in patients with Celiac Disease and Eosinophilic Esophagitis.

We are excited for this transaction with Novartis, a company with relentless commitment to the development of innovative therapies for autoimmune conditions. As part of the Novartis portfolio, CALY-002 is in the best position to be developed effectively, so that it can promptly address unmet medical needs in multiple indications

Alain Vicari, Chief Executive Officer & Co-Founder, Calypso

The transaction with Novartis constitutes the high point in the development path of CALY-002 for the Calypso team. Calypso has established a significantly de-risked profile for CALY-002 as a potential best-in-class therapeutic anti-IL-15 antibody

Bernard Coulie, Chairman, Calypso

Novartis is committed to bringing innovative treatment options forward for patients living with immunological diseases. We’re thrilled to add Calypso’s potential best-in-class antibody to our Immunology pipeline and explore it in a spectrum of autoimmune indications.

Richard Siegel, Head of Immunology Research at Novartis

Lazard acted as financial advisor and Goodwin Procter LLP acted as legal counsel to Calypso.

About Calypso Biotech BV
Calypso is a private biotechnology company focused on the research and development of novel biologics to address unmet medical need in autoimmune and inflammatory diseases.

Calypso is developing a novel anti-IL-15 monoclonal antibody to treat a broad range of chronic autoimmune diseases by blocking Interleukin-15 (IL-15) and its wide-ranging functions at many levels of the immune response cascade. CALY-002, a highly potent monoclonal antibody, neutralizes all forms of IL-15 through a uniquely effective molecular mode of action to reduce inflammation and prevent tissue destruction.

Calypso was founded by M Ventures, the corporate strategic venture arm of Merck, and is headquartered in Amsterdam, The Netherlands, with offices and laboratories in Geneva, Switzerland. Investors include M Ventures, Inkef Capital, Gilde Healthcare, Fountain Healthcare Partners and Johnson & Johnson Innovation – JJDC, Inc.

For more information see www.calypsobiotech.com.

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Montagu announces the carve-out of Cook Biotech and its acquisition by RTI Surgical

Montagu

RTI Surgical, an industry leading contract development and manufacturing organization (CDMO), serving the regenerative medicine industry, announced today that it has signed a definitive agreement to acquire Cook Biotech Incorporated, a leader in advanced tissue-repair products from biomaterials, headquartered in West Lafayette, Indiana.

With the acquisition of Cook Biotech, RTI Surgical is taking another landmark step to reinforce its position as a unique CDMO in regenerative medicine. The combined entity will provide customers and surgeons access to new clinical segments and offer leading-edge expertise, scale and flexibility across end-to-end services including design, development, regulatory support, verification and validation, manufacturing and supply chain management. The acquisition will also reinforce RTI’s strategic focus on soft tissue clinical segments and enable its customers to leverage a clinically-proven portfolio of naturally-occurring bioresorbable materials designed to improve patients’ lives and outcomes.

Cook Biotech discovered the regenerative properties of porcine small intestinal submucosa (SIS) and pioneered the development of SIS tissue into a proven, regenerative biomaterial that is used in a variety of clinical applications. With the support of Cook Group, Cook Biotech has remained at the forefront of innovation in biomaterials and contributed to progressing science and solving unmet patient needs in fields such as nerve repair, cardiovascular, and drug delivery.

Olivier Visa, RTI Surgical President and Chief Executive Officer, said: “We are uniquely positioned to become a leading CDMO in regenerative medicine as an innovator of differentiated allograft and xenograft biomaterials, and we look forward to welcoming the Cook Biotech team and leveraging their world-class talents and capabilities in xenograft development and processing to better address patient needs together.”

We look forward to welcoming the Cook Biotech team and leveraging their world-class talents and capabilities in xenograft development and processing to better address patient needs together.

Olivier Visa, RTI Surgical President and Chief Executive Officer

RTI’s acquisition of Cook Biotech is backed by its main shareholder Montagu, who is increasing its investment in the group and contributing its carve-out experience and capabilities to the transaction.

Adrien Sassi, Partner at Montagu, said: “We are committed to supporting both companies in reaching their full potential by leveraging proven technologies to create a platform for innovation that enables surgeons to better address the unique needs of their patients. We are excited to extend our support to RTI’s development and proud that Cook Group are trusting us for Cook Biotech’s next phase of development.”

We are excited to extend our support to RTI’s development and proud that Cook Group are trusting us for Cook Biotech’s next phase of development.

Adrien Sassi, Partner, Montagu

The transaction is expected to close in Q1 2024.

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EQT Infrastructure to partner with EdgeConneX to develop data centers for global hyperscale customers

eqt

This investment will enable expansion into new markets around the world to fulfill customers’ global data center capacity requirements and become their provider of choice

This new partnership will build out hundreds of megawatts of new data center capacity to support future cloud, AI and other critical digital infrastructure requirements

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to partner with EdgeConneX to build and operate high-powered and purpose-built data centers for hyperscale customers around the world, expanding into new markets. EdgeConneX is a leading data center provider backed by funds EQT Infrastructure IV and EQT Infrastructure V.

Since EQT’s acquisition in 2020, EdgeConneX has more than tripled its capacity and expanded into Asia, Latin America and new European markets. Today, the company has a global footprint of 80 data centers in operation or development in more than 50 markets across North America, Europe, APAC and South America.

The continued growth of the data center industry is supported by key trends including digitalization, cloud adoption and the rise of artificial intelligence (AI). It is estimated that the capacity needed to serve AI-focused deployments will triple by 2030. This investment by EQT Infrastructure VI, in partnership with EdgeConneX, intends to build out hundreds of megawatts of data center capacity necessary to support hyperscale customers and the world’s digital economies.

Jan Vesely, partner within EQT Infrastructure’s Advisory team, said, “With the support of EQT Infrastructure’s global presence, industry expertise and dedication to sustainable growth, EdgeConneX together with this new initiative is well-positioned to be a leading provider of critical digital infrastructure worldwide. EdgeConneX is a pioneering data center solutions provider, and its team has the proven track record and deep experience necessary to help lead this expansion and meet hyperscale customers’ needs around the world.”

EdgeConneX CEO Randy Brouckman said, “We have always taken a customer-centric approach, focused on giving our customers the capacity they need, in the right configuration, in the right markets, at the right time. Amid the rapid proliferation of data and compute, data centers are the critical infrastructure housing and connecting the technologies, the companies, and the end-users, thus enabling the future growth of the world’s digital economies. With the support of EQT’s deep local presence in critical markets around the world, EdgeConneX has expanded rapidly, and we’re excited about the opportunities this new partnership with EQT will unlock.”

With this transaction, EQT Infrastructure VI is expected to be 30-35 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 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 onLinkedIn,X,YouTube andInstagram

About EdgeConneX
Backed by EQT Infrastructure, part of the global investment organization EQT, EdgeConneX provides a full range of sustainable data center solutions worldwide. We work closely with our customers to offer choices in location, scale, and type of facility, from Hyperlocal to Hyperscale. EdgeConneX is a global leader in anytime, anywhere, and any scale data center services for a diverse portfolio of industries, including Cloud, AI, Content, Networks, and more. With a mission predicated on taking care of our customers, our people, and our plante, EdgeConneX strives to Empower Your Edge.
More info:www.edgeconnex.com

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Knitwell Group adds Chico’S, White House Black Market and Soma

Sycamore

Company is now a $6 billion Powerhouse in the Women’s Specialty Retail Apparel Space

NEW YORK, Jan. 5, 2024 /PRNewswire/ — KnitWell Group (“KnitWell”), a company comprising industry-leading apparel brands Ann Taylor, LOFT, and Talbots, today announced it has added Chico’s, White House Black Market and Soma to its portfolio. KnitWell also provides oversight and shared services to Lane Bryant, a leading plus-size women’s apparel brand. This combination follows the sale of Chico’s FAS to Sycamore Partners, a leading private equity firm specializing in consumer, distribution, and retail-related investments.

NEW YORK, Jan. 5, 2024 /PRNewswire/ — KnitWell Group (“KnitWell”), a company comprising industry-leading apparel brands Ann Taylor, LOFT, and Talbots, today announced it has added Chico’s, White House Black Market and Soma to its portfolio. KnitWell also provides oversight and shared services to Lane Bryant, a leading plus-size women’s apparel brand. This combination follows the sale of Chico’s FAS to Sycamore Partners, a leading private equity firm specializing in consumer, distribution, and retail-related investments.

“KnitWell is a best-in-class operating enterprise in the world of vertical specialty retail, comprising some of America’s most iconic brands, committed to instilling confidence in the women they serve,” said Lizanne Kindler, Executive Chair and Chief Executive Officer of KnitWell Group. “Chico’s, White House Black Market and Soma fit perfectly into the portfolio as established and inspiring brands that generate sustainable, high-quality results. We are thrilled to welcome these brands, their more than 14,000 associates and their customers to the KnitWell family.”

With the addition of Chico’s, White House Black Market and Soma, KnitWell’s brands generate approximately $6 billion in annual sales, further solidifying its position as one of the largest specialty apparel companies in the United States.

Adds Ms. Kindler, “There is so much opportunity that comes with being part of this larger family of brands in terms of sharing best practices, innovation, and an incredible runway for growth and development, as well as efficiencies and leverage that come from size and scale with eight of the best retail apparel brands in the country. This is a great day and we cannot wait to get started.”

Contacts

Sycamore Partners

Michael Freitag or Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
media@sycamorepartners.com

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AUA Private Equity Partners Announces Acquisition of Weaver Holdings, LLC

AUA Private Equity

WEST PALM BEACH, Fla. — AUA Private Equity Partners, LLC (“AUA Private Equity”) is pleased to announce the acquisition of Weaver Holdings, LLC (“Weaver Popcorn Manufacturing” or the “Company”), a fourth-generation family-owned manufacturer of popcorn and snacking products. Financial terms of the transaction were not disclosed.

Weaver Popcorn Manufacturing is the largest independent manufacturer of popcorn products in the United States. The Company is recognized for its scale, quality, and innovation by its blue-chip retail and branded customers. Alongside its investment in Weaver Popcorn Manufacturing, AUA Private Equity will bring the firm’s significant experience in professionalizing and improving family-owned food manufacturing businesses to help expand on the Weaver Family’s well-invested assets and passionate employee base.

“Our partnership with the Weaver Family and Weaver Popcorn Manufacturing is emblematic of what AUA Private Equity does best – partnering with family-owned businesses to take them to the next level,” said Andy Unanue, Managing Partner of AUA Private Equity. “We will proactively focus on operational upside by supporting the team with capital and resources while preserving Weaver Popcorn Manufacturing’s entrepreneurial and solution-oriented culture. We are eager to continue building upon the Company’s ongoing success.”

David Benyaminy, Partner of AUA Private Equity commented, “We see tremendous opportunity to help Weaver Popcorn Manufacturing expand, and the Company possesses all of the necessary attributes to accelerate its success: an excellent management team, an engaged and aligned family-owner, and a flexible capital structure. Our plan is to make this a best-in-class partner for customers and all their snacking needs.”

Charlie DeVries, Vice President of AUA Private Equity added, “We are tapping into our bench of operating partners to enact meaningful change at the Company. We’ve added Mike Tracy, formerly the SVP of Supply Chain at Conagra, and Ted Schouten, formerly the President of TruFood Manufacturing to the board of directors. Both individuals will help oversee the investment and augment governance.”

Jason Kashman, CEO of Weaver Popcorn Manufacturing, said: “We are thrilled to partner with AUA Private Equity and its phenomenal team, who has a demonstrated history of success in food manufacturing and helping to propel the growth of family-owned businesses. By building on the foundation that the Weaver family put in place, AUA Private Equity will allow us to expand our capabilities operationally and increase the pace of product innovation. The resources that AUA Private Equity brings will ultimately benefit our customers and associates at Weaver. We are excited to join the AUA Private Equity family.”

Will Weaver, shareholder and fourth-generation owner added, “AUA Private Equity is the right partner to build on Ira Weaver’s original mission — to offer the world’s highest quality, best-tasting popcorn at the lowest possible price. We are very excited for what the future has to offer.“

The AUA Private Equity deal team was led by Partner David Benyaminy, Vice President Charlie DeVries, Senior Associate Nico Pflaum and Associate Luke Phillips. McDermott Will & Emery served as legal advisor for AUA Private Equity Partners and Proterra Investment Partners provided the debt financing. Grant Thornton and Boston Consulting Group also served as commercial and financial advisors for AUA Private Equity. Taft Stettinius & Hollister served as legal advisor for Weaver. Ernst & Young Capital Advisors, LLC served as the exclusive financial advisor to Weaver Popcorn Manufacturing in connection with the transaction.

About AUA Private Equity Partners, LLC

AUA Private Equity Partners is a West Palm Beach, FL based, operationally focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $40 to $100 million in companies that generate in excess of $10 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com.

About Weaver Holdings, LLC

Started in 1928 by Ira Weaver, Weaver Popcorn Manufacturing is a leading manufacturer of popcorn and snacking products. The Company operates out of its headquarters in Van Buren, IN and administrative offices in Indianapolis, IN. For more information, please visit www.weaverpopcornmfg.com.

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Blackstone Announces Fourth Quarter and Full Year 2023 Investor Call

Blackstone

NEW YORK – January 4, 2024 – Blackstone (NYSE:BX) announced today that it will host its fourth quarter and full year 2023 investor conference call via public webcast on January 25, 2024 at 9:00 a.m. ET.

To register, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1649868&tp_key=e37365a1ec.

For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Blackstone’s website at https://ir.blackstone.com/.

The audio replay will also be available on our podcast channels, including Spotify, Apple Podcasts and SoundCloud, approximately 24 hours after the event.

Blackstone distributes its earnings releases via its website, email lists and Twitter account. Those interested in firm updates can sign up here to receive Blackstone press releases via email or follow the company on X (Twitter) @Blackstone.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.  Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

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Categories: News