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Advent International invests in VNU Exhibitions Asia, a leading exhibition and conference host

Shanghai, 2 February 2024 – Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, today announced its investment in VNU Exhibitions Asia (“VNU EA”), a leading host of exhibitions and conferences in China.

With a track record of nearly 30 years, VNU EA has a significant presence in China, operating across 10 cities and hosting over 20 exhibitions and conferences each year. Headquartered in Shanghai, the company specializes in exhibition and conference solutions for global customers across four industries: pet food and supplies, paving materials and building construction and décor, 3D printing and additive manufacturing, and agriculture/agri-tech. Its flagship event, Pet Fair Asia, which was launched in 1997, has emerged as the world’s foremost exhibition for pet supplies, attracting more than 24,000 exhibiting brands and over 350,000 visitors in 2023.

Irene Liu, Managing Director at Advent, commented, “We are excited about VNU EA’s strong portfolio, its longstanding track record spanning nearly three decades and its immense growth potential. The company has established itself as a market leader in China by providing high-quality exhibition services for both domestic and global customers. Together with VNU EA’s exceptional management team, we are confident that Advent’s global resources and support will propel the company’s next phase of growth amidst a thriving sector in China.”

David Zhong, Founder at VNU Exhibitions Asia, said, “As the founder of VNU EA, I am extremely proud of our company’s achievements over the last 30 years. We have created some of the world’s most high-profile exhibitions for a range of industries, including pet and lifestyle trends, architecture and urban development, agriculture and food, as well as the smart industries of the future. Our customers have been able to develop their businesses in China and Asia through our platforms and have seen huge growth year-on-year thanks to the commitment of our great team of professionals and the significant market potential of the industries we serve. I am very excited to join forces with Advent and bring our business to the next level of growth and expansion. We couldn’t have found a better partner to help us achieve further success in the future.”

Andrew Li, Managing Director, Head of Greater China at Advent, said, “Over the past decade, Advent has been investing in companies and industries in the China market that have significant growth potential, aiming to create value through our unique operational strategies, extensive sector experience and our global network. Our partnership with VNU demonstrates this investment approach as well as our continued deep commitment to the Greater China region.”

Jeroen van Hooff, CEO at Royal Jaarbeurs, which had a majority interest in VNU EA, said, “VNU EA has organized many successful events in China over the past few decades. Following a strategic reorientation, we now welcome Advent as a new investor in VNU EA. I would like to thank the local management team in China for the excellent cooperation we have enjoyed during our long-term partnership. Having Advent’s support will certainly help VNU EA further strengthen its position in the event industry. Given that Royal Jaarbeurs will continue to organize VIV Select China and Pet Fair South-East Asia with VNU EA, we are greatly looking forward to working with Advent in the future.”

Ranjan Sen, Managing Partner at Advent, commented, “We are excited about the vibrant exhibition sector in China and the tremendous market potential it offers. Our investment in VNU EA exemplifies our enthusiasm for this dynamic industry, VNU’s strong capabilities and the vision to build a leading exhibition platform in China. It underscores our commitment to promoting innovation and excellence in attractive and growing sectors, and we look forward to the promising opportunities that lie ahead.”

Advent has made multiple investments across Greater China in recent years, including LBS Group, a leading pest control operation and hygiene solutions provide in Greater China; Wagas Group, a major lifestyle F&B group in China; AI Dream, China’s leading branded sleep solution provider and the largest player in the country’s premium mattress market; BioDuro, a global life sciences contract research and development organization with major operations in Shanghai, Beijing and San Diego; and GS capsule, the largest domestic capsule provider in China.

Going forward, VNU Exhibitions Asia will change its English name to Globus Events to better reflect its growth potential following the partnership with Advent. The new name reinforces the company’s commitment to being a platform that connects local and global businesses and highlights its mission to help “make business happen”.

About VNU Exhibitions Asia

Through the joint efforts of more than 150 employees, VNU Exhibitions Asia hosts over 20 branded exhibitions and conferences each year with a total exhibition area of over 1,000,000 square meters. The company is headquartered in Shanghai and operates in additional cities and regions worldwide. The company is also a member of the Global Association of the Exhibition Industry (UFI).

VNU Exhibitions Asia was part of the centennial Royal Jaarbeurs exhibition group from Europe. Benefiting from its international resources, extensive business network and expert operational management, VNU Exhibitions Asia has developed a business strategy termed ‘GLOCALIZATION’ and facilitated Chinese market entry directives with more than 20 well-known international exhibition organizers.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across more than 40 countries and regions, and as of September 30, 2023, had $91 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer, and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-internationl

Media contacts

FTI Consulting
Izzie Shen (Shanghai) / Jena Qian (Hong Kong)
Tel: +86 21 2315 1068 / +852 9839 0019
izzie.shen@fticonsulting.com / jena.qian@fticonsulting.com

Globus Events
Aida Cuko (Overseas) / Amy Hu (Shanghai)
Tel: +39 3497975246 / +86 21 6016 7521
aida.cuko@globusevents.com / amy.hu@globusevents.com

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GFT acquires Sophos Solutions from Advent International

Acquisition expands core banking expertise, client base, footprint, and team by almost 20%

Stuttgart, Germany/Bogota, Colombia, 25 January 2024 – Global digital transformation pioneer GFT Technologies SE (GFT) agreed to acquire 100% of shares in Colombia-based core banking expert Sophos Solutions S.A.S.. With Sophos, GFT advances to top 3 banking IT services provider across Latin America and also increases its global delivery capability. The purchase from Advent International, one of the largest and most experienced global private equity investors, is a clear sign of GFT’s continued focus on growth and profitability.

GFT is gaining a new stronghold for core banking solutions, AI and cloud modernisation, as well as additional partners and clients, which include Colombia’s most relevant financial institutions. The company is increasing its presence to 20 countries, six of which are in Latin America: Brazil, Mexico and Costa Rica are now complemented by Colombia, Chile and Panama. The combined impact of both companies will result in GFT advancing to be a top three provider of IT services for banking across Latin America¹⁾.

Thanks to Sophos’ more than 1,700 employees, GFT’s global headcount will grow by almost 20 percent to more than 12,000. This is the largest number of talents ever added in a GFT acquisition. The transaction is expected to be completed in early February 2024. In 2022, Sophos generated revenues of around 257 billion Colombian pesos (currently around 60 million Euros) and GFT reported €730.14 million Euros worldwide.

“In this strategic acquisition, we’re not just merging companies; we’re multiplying potential,” said GFT CEO Marika Lulay. “It is a logical continuation of our successful strategy for growth and profitability. All aspects of Sophos are highly valuable to us. From the new colleagues, new competencies and new clients to the new partners for core banking solutions, such as Finastra. All this results in high traction for GFT in Latin America’s third-largest market Colombia, plus exponential growth scope in the Americas and beyond.”

Clients benefit from expertise in core banking, AI and cloud modernisation

Sophos is especially renowned for its core banking, AI and cloud modernisation expertise, as well as innovation and digital transformation. GFT clients benefit from expanded delivery capacity and access to new expertise, including in solutions for core banking with Sophos’ established partners. For Sophos’ clients, the acquisition means access to the additional large GFT talent pool, extensive experience in successfully implementing next generation technology, more partners like Thought Machine, and pre-built solutions. All that combined translates into a shorter time to market and effective services delivery for all clients.

“We are proud to have partnered with the entire Sophos team during a time of significant growth for the Company,” said Lucas Marulanda, Director at Advent International. “Since our investment in 2020, Sophos has strategically scaled its platform through international and regional expansion and continued to help drive significant technological transformation and modernisation across the financial industry. We look forward to following the company’s continued success.”

“For everyone at Sophos, it is a great opportunity to become part of GFT,” added Sophos CEO Felipe Villa. “I see a perfect fit with combined expertise and global presence of Sophos and GFT. This will enable us to even better support our clients on their digital transformation journey – great news for our employees and their career development, as well as for our clients. We are grateful to Advent for taking our company to the next level.”

Canaccord Genuity is serving as the exclusive financial advisor to Advent and Sophos.

Sophos Solutions

Sophos Solutions is a multinational IT firm based in Colombia, that accompanies the technological transformation of key financial institutions across several markets worldwide.

The company offers solutions for banking transformation, cloud services, data intelligence & AI as well as digital solutions with vast expertise in core banking.

Sophos Solutions was founded in Colombia in 2006 by a group of innovators from India, with the aim of providing cutting-edge software solutions to financial institutions. In 2020 it became part of the renowned private equity investor Advent International.

Over the years, the company has grown significantly to more than 1,700 employees worldwide, with subsidiaries in 6 different countries, including the United States, Mexico, Colombia, Chile, Panama, and India. It operates in over 14 countries, providing digital transformation & software product engineering to major top-tier banks and financial institutions.

www.sophossolutions.com

www.linkedin.com/company/sophossolutions/

www.instagram.com/sophos.solutions/

GFT

GFT is a digital transformation pioneer. By leveraging next-generation technologies, we enable clients to boost their productivity with intelligent software solutions. We focus on Digital Finance, Enterprise AI & Data Solutions, and Platform Modernisation.

GFT’s strengths include deep technological excellence, a strong ecosystem of partners, and industry expertise. We are agile@scale and boost digital transformation for clients from the finance and insurance sectors, as well as the manufacturing industry. GFT talents create, implement, and manage software applications to enable innovative businesses while complying with regulations.

With locations in more than 15 markets around the globe, GFT ensures proximity to its clients. We draw on over 35 years of experience and a global team of over 10,000 determined talents. GFT provides them with career opportunities in the most innovative areas of software engineering. The GFT Technologies SE share is listed in the SDAX index of the German Stock Exchange (ticker: GFT-XE).

www.gft.com

www.blog.gft.com

www.linkedin.com/company/gft-technologies

www.twitter.com/gft_tech

Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of September 30, 2023, had $91 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

Advent has been present in Colombia since 2011 and currently has 10 professionals dedicated to investing in the country. The team has invested more than US$1 billion in companies with relevant operations in Colombia such as LifeMiles, Alianza Fiduciaria, Alianza Valores, Grupo Biotoscana, GTM, Ocensa, Sophos Solutions and most recently, GHL Hotels.

¹⁾Market Share Analysis: IT Services, Worldwide, 2022 (gartner.com); Forecast: Enterprise IT Spending by Vertical Industry Market, Worldwide, 2021-2027, 4Q23 Update (gartner.com)

This press release is also available for download via the GFT newsroom.

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Advent International announces its annual promotions

Boston, London, 12 January 2024 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, is pleased to announce staff promotions across the global investment and corporate teams.

The promotions represent a wide range of talent and geographies from across the business, with:

Promotions by region: 31 North America, 18 Europe, 10 Latin America, 4 Asia
44% of total promotions female

Three individuals have been promoted to Managing Director at Advent:

Fabio Cali, London
Jason Karl, New York
Irene Liu, Shanghai

“Congratulations to all of our colleagues who have been recognised in this round of promotions,” said James Brocklebank, Managing Partner and Co-Chair of Advent’s Executive Committee. “Advent has a proud record of nurturing and rewarding the contribution of outstanding colleagues. It is the extraordinary talent of our people that has made Advent the truly global industry leader it is today.”

“I extend my warmest congratulations to all of our talented colleagues who have been promoted today,” said John Maldonado, Managing Partner and Co-Chair of Advent’s Executive Committee. “Their dedication, hard-work and expertise has been instrumental to Advent’s continued success and I wish them the very best in their new roles.”

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of June 30, 2023, had $92 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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Orveon Welcomes Neela Montgomery as Chief Executive Officer

Accomplished retail executive will bring global experience, operational excellence and consumer brand expertise to drive growth

NEW YORK, January 9, 2024 – Orveon Global (“Orveon” or “the Company”), a purpose-driven collective of premium beauty brands, today announced that Neela Montgomery will join the Company as Chief Executive Officer (“CEO”), effective January 18, 2024. Ms. Montgomery will also join the Orveon Board of Directors (the “Board”).

“Neela is a highly accomplished leader in high-growth, vibrant consumer businesses and we are thrilled to welcome her as CEO of Orveon,” said Tricia Glynn, Chair of the Board at Orveon and Managing Partner at Advent International. “Orveon has established a strong foundation in its two years since launch and Neela is the ideal executive for this next phase of growth. Her special mix of global experience, operational acumen and record of growing consumer brands will position the business for long-term success.”

“Orveon has built a differentiated business that not only is home to three iconic beauty brands but also is leading change in the beauty and wellness industry,” said Ms. Montgomery. “I see immense opportunity to continue developing the platform’s capabilities while nurturing the success of bareMinerals, BUXOM and Laura Mercier to deliver an authentic, sustainable offering for consumers and retail partners alike. I am excited to lead the talented team at Orveon as we continue to innovate, capture new opportunities and drive growth.”

Ms. Montgomery comes to Orveon as a seasoned global CEO who has led, scaled and transformed consumer businesses across the U.S., Europe and Asia, including CVS Health, Crate & Barrel Holdings, Otto Group and Tesco PLC. Most recently she served as a Board Partner at Greycroft, a leading venture capital firm. With nearly two decades of experience, she is a dynamic leader of consumer brands with a record of driving successful digital transformations, global expansion and fostering diverse and inclusive company cultures.

Ms. Montgomery is a member of the Board of Directors of Logitech, Squarespace and Fetch. She also sits on the Board of St Jude’s Hospital, the world’s leading non-profit pediatric cancer hospital, as well as the Board of Wellsense, the largest Medicaid provider in Massachusetts. She studied English Literature at Oxford University and holds an M.B.A from INSEAD in France and Singapore.

ABOUT ORVEON

Established in 2021, Orveon is a collective of iconic cosmetics brands, bareMinerals, BUXOM and Laura Mercier, paving the way for the future of the beauty industry. Believing beauty is more than skin deep, Orveon aims to challenge conventional wisdom with humility and deliberate action – all to create positive change. Owning the face of beauty, and striving to face forward together, Orveon is about its employees, as much as the union of these established entities. Together, the company will push beyond being known simply as cultural tastemakers and ascend as advocates of advancement. Embarking on a powerful shift, Orveon is committed to stark honesty, co-creation and making a sustainable cultural impact today and for years to come.

For more information, visit:

Website: www.orveonglobal.com
LinkedIn: https://www.linkedin.com/company/orveonglobal/ Instagram: https://www.instagram.com/orveonglobal/
Twitter: https://twitter.com/orveonglobal

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Orveon Global

Monique McKenzie

Executive Director, Global Public Relations

m: 404.906.3052

e: mmckenzie@orveonglobal.com

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Advent International Appoints Wealth Management Executive Tricia Rothschild as Operating Partner

BOSTON, November 20, 2023 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the appointment of Tricia Rothschild as an Operating Partner. Rothschild will play a key role in helping Advent identify and support new investments in wealth and asset management, including related technology and data & analytics.

Rothschild is a highly accomplished executive with decades of experience in financial services, with a focus on wealth and asset management, investment data, technology, and information services. Rothschild spent more than 25 years at Morningstar, transforming the company from startup to a leading, global and publicly-listed provider of investment research software, data, and index solutions. During her tenure at Morningstar, she held numerous senior leadership roles, including most recently serving as Chief Product Officer and Co-Head of Global Markets, where she was responsible for an $800 million portfolio of global software, data and research businesses serving both retail and institutional investors, and developed and led the firm’s global equity research business. Following Morningstar, Rothschild served as President for Apex Fintech Solutions, a digital B2B fintech platform providing custody, clearing and other services to leading brokerages, financial advisors, global institutional investors and fintech firms.

“Tricia is one of the most established leaders in wealth services, with an incredible track record of building businesses with both innovative and cost-effective solutions that drive enhanced outcomes for investors and their advisors,” said Gabriela Weiss, Principal at Advent. “Tricia’s insights and extensive network of industry relationships around the world will be instrumental as we pursue investments that capitalize on the opportunities presented by the global wealth creation megatrend, which includes increasing democratization of access to investment services, innovation in investment approaches, and the evolution of the financial advisor role. With this space poised for long-term growth, we are thrilled to partner with a seasoned executive like Tricia and look forward to growing Advent’s portfolio together.”

“I am excited to work with Advent due to its disciplined and selective investment strategy, its global reach and experience, and its focus on growth and true partnership with its portfolio companies,” said Rothschild. “Technology continues to disrupt the wealth management industry, creating significant and unprecedented opportunity for investment, product innovation and transformational growth. I look forward to leveraging Advent’s global platform and expertise as we capitalize on strong industry tailwinds around professionalizing and democratizing access to investment services to meet investors’ needs.”

Rothschild currently sits on the boards of wealthtech and enterprise software firms, including Nitrogen and Canoe Intelligence, where she supports the leadership teams of both companies in their growth initiatives. Additionally, Rothschild serves on the CFA Institute Board of Governors, which oversees the investment industry’s premier professional organization and credentialing program, with 200,000 charterholders around the world and a long-standing mission of promoting the highest standards of ethics and rigor in investment management globally.

As an avid supporter of community engagement, Rothschild is also a co-founder of the Chicago Giving Circle (CGC). CGC brings together Chicago-area donors who collectively support a select group of innovative and high-impact nonprofit organizations focused on improving the lives of Chicago-area families in need. Rothschild also serves on the board of Rock the Street, Wall Street, a financial and investment literacy program that brings both gender and racial equity to the financial markets by educating high school girls and improving the pipeline of diverse talent entering the investment arena.

During the course of her career, Rothschild has received several awards, including Financial Planning’s “Most Likely to Change Wealth Management” list in 2021, and was named to Investment News’ “Women to Watch” list in 2020.

Rothschild received her Master of Arts in Russian and eastern European economics from Indiana University and her Bachelor of Science in communication studies from Northwestern University.

ADVENT INTERNATIONAL

ABOUT ADVENT INTERNATIONAL

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of June 30, 2023, had $92 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

Media contacts

Advent International
Lauren Testa
ltesta@adventinternational.com

FGS Global
Zachary Tramonti/Kevin Siegel
Tel: +2126878080
Adventinternational-US@fgsglobal.com

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Advent International forms Circle, a leading payments and technology platform for small merchants and sole traders

Circle also agrees to acquire myPOS, a leading provider of payments solutions

London, 16^th November, 2023 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, has formed AI Circle Bidco Limited (“Circle”), a payments and technology platform serving small merchants and sole traders in Europe. As part of this strategy, Circle has agreed to acquire myPOS, a leading provider of payments solutions.

Laurent Le Moal, a seasoned payments and fintech leader, and former Chief Executive Officer of PayU and Vice-President at PayPal, has joined as Chairman of Circle. Under Laurent’s leadership, Circle’s ambition is to become a leading end-to-end payments and technology company serving small merchants and sole traders across Europe, who are traditionally underserved by banks.

Headquartered in the UK, with over 500 employees, myPOS provides a suite of payments, accounts and cards solutions for small merchants and sole traders. Through its product offerings, it sits at the centre of small and micro merchants’ financial flows and is a key partner in allowing them to grow and develop their businesses. The business serves around 170,000 merchants in continental Europe across multiple sectors – including food & beverages, professional services, retail and transportation.

The Circle platform will support the current myPOS management team in growing the customer base while preserving the differentiated business model and the competitive value proposition.

Laurent Le Moal, Chairman at Circle, said: “We have big ambitions to scale the Circle payments and technology platform, and to expand its range of differentiated digital offerings to traditionally underserved sole traders and small merchants. The opportunities to scale the platform’s digital capabilities, to expand internationally, to grow into new services such as software and lending and in turn to support economic growth, are real and exciting, and I cannot wait to start on this journey together with the Advent team.”

Fabio Cali, Director at Advent International, comments: “We are very excited to invest in Circle and to create a truly differentiated digital platform with the ambition to be both market leading and able to support the real economy by helping smaller businesses to flourish. Acquiring myPOS is the first step on this journey and is a business we have followed for over five years, closely tracking its evolution and development. We intend to draw on our strong and in-depth payment processing and broader financial services experience, and with the support of Laurent and our wide network of tenured operating partners, are confident we can build a successful and highly essential platform in Europe.”

AI Circle will be able to leverage Advent’s experience and knowledge in the payments industry. Worldwide since 2008, Advent has invested more than $6.6 billion in 17 payments and fintech companies. Recent investments in the sector include Mangopay (a leading payments solution provider for marketplaces and platforms), Medius (a leading provider of cloud-based accounts payable automation), Thredd (the leading global payment technology platform) and Planet (a global provider of integrated digital payment services).

The transaction, which is subject to customary regulatory approvals, is expected to close in Q4 2023.

ADVENT INTERNATIONAL

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of June 30, 2023, had €85 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 295 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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Advent International
Peter Folland
Tel: +44 7918 879165
pfolland@adventinternational.co.uk

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Advent International Appoints Fintech Executive Kahina Van Dyke as Operating Partner

Seasoned Leader Will Strengthen Advent’s Fintech Practice

BOSTON, October 10, 2023 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the appointment of Kahina Van Dyke as an Operating Partner. Van Dyke will play a key role in further building out Advent’s fintech franchise, working collaboratively with the firm’s Technology and Business & Financial Services teams to identify new opportunities and support the management teams of its relevant portfolio companies.

“We’re thrilled to welcome Kahina as an advisor to Advent given her experience across banking, payments and technology,” said Eric Noeth, Managing Director at Advent. “Kahina has been at the forefront of fintech for more than three decades. Working on-the-ground in more than 50 countries over the course of her career, Kahina brings an invaluable wealth of global experience from her roles at several leading financial institutions, large technology companies and high-growth start-ups. We look forward to working with her to identify and invest in disruptive technologies that can transform the fintech industry.”

Prior to joining Advent, Van Dyke served as the Global Head of Digital Channels & Data Analytics at Standard Chartered Bank. In this role, she led the company’s vision to become the leading digital banking platform for global trade, commerce and financial services. Previously, Van Dyke led the Corporate and Business Development teams at Ripple, a blockchain-based payments company, shepherding the development of new strategic partnerships. While at Ripple, Van Dyke was instrumental in forming the company’s strategic relationship with and $30 million equity investment in MoneyGram, where she served as a Board Observer and helped develop a commercial partnership to leverage blockchain technology and facilitate cross-border payments. Van Dyke also served as Global Lead of Financial Services and Payments at Meta (formerly known as Facebook), where she helped launch new consumer payments partnerships and financial solutions to billions of users. Prior to Meta, Van Dyke was SVP of Global Initiatives at Mastercard, where she led go-to-market strategies for globally scalable payment solutions. Previously, Van Dyke worked at Citibank where she helped launch several new e-commerce solutions nationally and internationally, including the first mobile wallet launch, and led product management and business development across various markets in Europe and the Middle East.

“I am excited to partner with Advent to support their investment efforts and work alongside their portfolio companies, particularly in the software, payments and financial services sectors,” said Van Dyke. “As one of the preeminent leaders in global fintech investing, Advent has deep domain expertise and meaningful experience helping scale some of the world’s largest companies. I am eager to begin working closely with portfolio company management teams to help strategize, identify and implement growth opportunities.”

“We’re honored and fortunate to have someone of Kahina’s caliber work with our team,” said Jeff Paduch, Managing Partner at Advent. “In addition to her extensive international industry expertise and stellar track record of digitizing finance, Kahina is a proven leader who is passionate about attracting, developing and mentoring the next generation of talent. She is also a founder, non-profit board member and entrepreneur with the ability to apply strategic out-of-the-box thinking with a people-focused leadership framework, allowing her impact to be seen across multiple sectors. We look forward to building on Kahina’s legacy of evolving traditional models of finance to invest in and support the next wave of innovative fintech leaders.”

Recognized as a thought leader within the fintech industry, Van Dyke has received several accolades for her accomplishments, including being named #1 on The Financial Technology Report’s 2019 list of Top 25 Women Leaders in Fintech. Additionally, in 2020, she was named as Top Women in Banking by FintechFutures, and in 2021, Van Dyke was listed in the inaugural list of Top 100 African Americans/Blacks with storied successes by The Board IQ. She currently serves on the Board of Directors at The Progressive Corporation (NYSE: PGR). Van Dyke received her Bachelor of Arts in political science and government from the University at Albany.

Advent has long been an investor in the fintech space, with its largest investments including Vantiv, Worldpay, TransUnion, XPLOR, Conservice, CCC Intelligent Solutions, Planet and Nexi.

Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 410 private equity investments across 42 countries, and as of March 31, 2023, had $95 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 290 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

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Zachary Tramonti / Sophia Templin
FGS Global
Tel: +1 212 687 8080
Adventinternational-US@fgsglobal.com

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Advent International and Warburg Pincus Complete Acquisition of Baxter’s BioPharma Solutions Business

Newly established business to be named Simtra BioPharma Solutions

Boston, MA and New York, NY– October 2, 2023 — Advent International (“Advent”), one of the largest and most experienced global private equity investors, and Warburg Pincus, a leading global growth investor, today announced the completion of their previously announced acquisition of Baxter International Inc.’s (NYSE:BAX) BioPharma Solutions (BPS) business. The business will now be a standalone contract development and manufacturing organization (CDMO) operating under the name Simtra BioPharma Solutions (“Simtra”) and will continue to offer customers the same solutions and capabilities to help ensure supply of critical pharmaceutical products worldwide. Under the terms of the definitive agreement, Baxter received $4.25 billion in cash, subject to certain closing adjustments.

Simtra will continue to operate as a leading provider of sterile contract manufacturing solutions, parenteral delivery systems and customized support services to the pharmaceutical and biotech industries. In partnership with Advent and Warburg Pincus, Simtra will become a fully independent, end-to-end CDMO providing a range of services for clients, from clinical development to commercial fill/finish. The Simtra team of approximately 1,700 employees will continue to operate manufacturing sites in Bloomington, Indiana and Halle, Germany, and the new company will establish a corporate headquarters in New Jersey.

“I am thrilled to lead Simtra through this exciting time, augmenting the strong legacy that the team has built as part of Baxter,” said Franco Negron, who was announced as CEO of Simtra in August 2023. “I look forward to collaborating with Advent and Warburg Pincus – two highly experienced investors within the healthcare space – to continue to grow Simtra’s mission-critical services across a variety of therapeutic areas. I am committed to delivering exceptional quality, service, and technical capabilities for our global customer-base, and am excited to partner with our dedicated Simtra team members as we begin this new chapter.”

“Companies across the pharmaceutical and biotech industries rely on Simtra for the premier contract manufacturing services and support services it provides,” said John Maldonado, a Managing Partner at Advent. “In partnership with Franco, the Simtra leadership team, and Warburg Pincus, we will strive to build on Simtra’s specialized capabilities and drive further product expansion that will ultimately benefit more patients with critical needs.”

“Simtra is well-positioned to accelerate its go-to-market strategy under the new brand, expand its drug development offering, and execute on capacity expansion,” said TJ Carella, Managing Director and Head of Healthcare at Warburg Pincus. “We are excited to partner with Franco, Advent and the impressive team at Simtra to accelerate this next phase of growth.”

Advent has been investing in the healthcare sector for over 30 years. Throughout this period, the firm has completed over 50 investments in 16 countries worldwide across a range of sub-sectors, including pharmaceuticals, life sciences and medical devices. Advent’s notable recent US healthcare investments include Iodine Software and RxBenefits, and the firm’s recent notable global pharmaceutical services investments include Bharat Serums and Vaccines, GS Capsule, ICE Group and Suven Pharmaceuticals/Cohance Lifesciences.

Since inception, Warburg Pincus has invested over $17 billion in more than 180 healthcare companies, including Summit Health, Modernizing Medicine, Ensemble Healthcare Partners, and Global Healthcare Exchange, and has been an active investor in life sciences, with notable investments in Polyplus, Norstella, Sotera Health, and Bausch + Lomb, among others.

About Advent International

For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com

LinkedIn: www.linkedin.com/company/advent-international

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 250 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $112 billion in over 1,000 companies in more than 40 countries. 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. Follow us on LinkedIn.

Media contacts

Contacts
Advent International
Leslie Shribman
lshribman@adventinternational.com

Warburg Pincus
Kerrie Cohen, (917) 887-9184
Kerrie.cohen@warburgpincus.com

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Nestlé Brasil enters into an agreement for the purchase of the CRM Group, Owner of Kopenhagen

São Paulo, September 06, 2023 – Today, Nestlé Brasil has entered into an agreement for the purchase of the CRM Group, owner of Kopenhagen and Brasil Cacau businesses. Under the structure of the transaction, Nestlé acquires the entire stake of FIP Dutch, whose quotaholders are funds managed by Advent International, in the CRM Group. The transaction is subject to the approval of the Administrative Council for Economic Defense (CADE) and will be submitted to the antitrust agency in the coming weeks. The transaction is expected to be closed in 2024. The financial details of the transaction will not be disclosed.

Renata Moraes Vichi, who has been with the company for 25 years, will continue to lead the Group’s operations as CEO and shareholder. Currently, the CRM Group has over 1,000 stores and is one of the major franchisors in Brazil. Nestlé’s controlling interest will allow it to participate in a differentiated segment, adding to its framework a new business model with its network of stores that offer an exclusive experience to consumers by matching high quality chocolate to coffee. Concurrently, Nestlé will be committed to further leveraging CRM Group’s growth.

“Renata’s continuance as CEO is considered fundamental for the success of the transaction, considering her deep knowledge of the business, the results and the passion with which she has led the company over the last 25 years, culminating in a consistent development path”, states Marcelo Melchior, CEO of Nestle Brazil. “We find that we have a great opportunity to accelerate higher value-added segments, further strengthening the Chocolate category in Brazil.”

A centenary brand, Kopenhagen’s history began in 1928 and has evolved throughout decades always distinguished by innovation. Classics such as Língua de Gato, Nhá Benta, Lajotinha, Chumbinho and Cherry Brand are household products to Brazilians: with over 600 stores, Kopenhagen is present in every Brazilian state. On the other hand, the Brasil Cacau stores have been on the market since 2009 and were created with the mission of democratizing quality chocolate in the country. Today, it has over 400 units throughout Brazil.

In 2020, the funds managed by Advent purchased the CRM Group’s control with the objective of supporting the company’s growth. In three years, the private equity firm boosted the opening of new stores, fulfilling the Group’s expansion plans. Advent also added its retail knowledge and technology aimed at accelerating the network’s digital transformation.

“I’ve been at the head of the Kopenhagen and Brasil Cacau brands for over two decades and, since I took my first position in the Group, my management was always aimed at perpetuating our brands and, therefore, all the strategies and innovations are undertaken with this purpose in mind. I’m proud of everything we’ve built jointly with our more than 590 franchisees and 2,000 employees. We come from a family group that has always been characterized by robust governance and a strong and driving culture, where preserving the territories of each brand and its evolvement has always been a priority. With non-negotiable values, we have grown and established ourselves as one of the largest franchising groups in the country. Together with Advent, we have achieved in three years what was had expected in five, and now we are entering into this partnership with Nestlé certain that we still have a long way to go to achieve our big dream. I’m sure that today we have taken a giant step towards this future that, as a group, we build every single day”, celebrates Renata Vichi, CEO of the CRM Group.

“Partnering with entrepreneurs and management teams is at the heart of Advent’s value creation strategy, and we are very happy with what we have achieved alongside Renata and her team at the CRM Group”, says Wilson Rosa, an Advent partner co-responsible for investments in retail and consumer companies in Latin America. Since 1997, Advent has invested in 24 companies in both sectors in the region. “Under Advent’s control, the CRM group saw marked revenue growth, enhanced its standing as the leader in the premium chocolates segment and became one of the main companies in the thriving Brazilian franchise market.”

The relationship to be established between Nestlé and the CRM Group will capture opportunities in different avenues for growth focusing on innovation, digitalization, exploitation of new categories and channels, in addition to enabling the expansion of sustainable initiatives relevant to the chocolate business.

About Nestlé

Nestlé has operated in Brazil for over 100 years and continues to renew its commitment to society, as a mobilizing force that contributes to bringing nutrition and wellness to billions of people and creating an environment of inclusion and opportunity for thousands of Brazilians, while being the most sustainable food producer in the country. The company employs over 30,000 people in Brazil and has 20 industrial units located in the states of São Paulo, Minas Gerais, Bahia, Pernambuco, Goiás, Rio de Janeiro, Rio Grande do Sul and Espírito Santo, as well as nine distribution centers and more than 50 brokers (responsible for sales, promotions, merchandising, warehousing and distribution). Committed to good practices from field to fork, the company has thousands of producers participating in quality programs in the cocoa, coffee, milk and vegetable chains, which insure sustainable production and bring innovation to the field. In addition, Nestlé develops initiatives in its facilities, such as minimizing water and energy consumption and reducing emissions, reforestation actions, and continuous innovation in increasingly sustainable packaging. Nestlé Brazil is present in 99% of Brazilian households according to a research by Kantar Worldpanel.

About CRM Group

Owner of the Kopenhagen, Brasil Cacau and Kop Koffee brands, it is currently one of the largest franchising groups in the country with more than 1,000 stores spread across all Brazilian states, employing more than 2,000 people and having 590 franchisees. With one of the most modern and well-equipped factories in the country, located in Extrema/MG, the Group has been a pioneer in the premium chocolate segment in Brazil, always indicated as a reference in product innovation and quality. Owner of classics such as: Nhá Benta, Língua de Gato, Cherry Brand and Lajotinha, the Kopenhagen brand has delighted and surprised its consumers for 95 years, crossing generations as a leading player in the gift sector. Brasil Cacau, with a lot of personality and attitude, was born in 2009 with the responsibility of democratizing quality chocolate in the country, a mission that has been carried out diligently, and today the brand is among the most beloved in Brazil. Kop Koffee, the youngest of the group, was born in 2019 to turn the coffee and chocolate match into a great opportunity to conquer new territories and new consumers.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 405 private equity investments across 42 countries, and as of December 31, 2022, had $92 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 290 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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Advent International and Warburg Pincus name Franco Negron CEO of BioPharma Solutions following its proposed divestiture from Baxter

Boston, Mass., and New York, N.Y. – August 24, 2023 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, and Warburg Pincus, a leading global growth investor, today announced they have selected Franco Negron to be chief executive officer (CEO) of BioPharma Solutions (BPS) following its proposed divestiture from Baxter International Inc. (NYSE:BAX). The closing of the divestiture, which remains subject to the satisfaction of customary closing conditions, is currently expected to occur in the second half of 2023.

Mr. Negron is a highly accomplished leader with nearly 30 years of experience in the pharmaceutical industry. Most recently, he served for three years as the CEO of ApiJect Systems America. Prior to joining ApiJect, Mr. Negron held several key leadership roles, including President of Commercial Operations at Thermo Fisher Scientific and President of Development and Commercial, North America at Patheon Pharmaceuticals. Mr. Negron has also held senior positions at other leading pharmaceutical companies, including Valeant Pharmaceuticals, Novartis and McNeil Consumer Healthcare.

“Franco will bring inclusive leadership, creative energy and customer focus to help BPS further elevate its position as a trusted and preferred partner of contract manufacturing services. Franco’s dedication to innovation aligns with BPS’ focus on advancing leading-edge, high-quality solutions that help address the unique needs of pharmaceutical and biotech customers worldwide,” said Carmine Petrone, a Managing Director on Advent’s Healthcare team.

“Franco’s impressive track record of partnering with pharmaceutical companies around the world makes him uniquely positioned to meet the challenges of today’s healthcare environment. We look forward to Franco driving the effort to carry forward the strong legacy that BPS has built as part of Baxter,” added Ruoxi Chen, Managing Director at Warburg Pincus.

BPS has been a leading provider of sterile contract manufacturing solutions, parenteral delivery systems and customized support services to the pharma and biotech industries for decades. Following the proposed divestiture of BPS, BPS will operate as a premier, independent end-to-end contract development and manufacturing organization (CDMO) providing a range of services for clients, from clinical research to commercial deployment.

Mr. Negron said, “BPS’ success and record of innovation position the company well to continue to grow its mission-critical services across a variety of therapeutic areas. With the partnership of Advent and Warburg, I am excited to lead the impressive team at BPS, which has developed differentiated technical capabilities and established an industry-leading reputation for quality and reliability.”

For over 30 years, Advent has been investing in the healthcare sector. The firm has completed over 50 investments in 17 countries worldwide across a range of sub-sectors, including pharmaceuticals, life sciences and medical devices. Advent’s recent healthcare investments in the US include Iodine Software and RxBenefits, and the firm’s recent global pharmaceutical services investments include BioDuro, GS Capsule, ICE Group, Suven Pharmaceuticals/Cohance Lifesciences, and Syneos Health.

Since inception, Warburg Pincus has invested over $16 billion in more than 180 healthcare companies, including Summit Health, Modernizing Medicine, Ensemble Healthcare Partners, and Global Healthcare Exchange, and has been an active investor in life sciences, with notable investments in Polyplus, Norstella, Sotera Health, and Bausch + Lomb, among others.

About Advent International

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Warburg Pincus

For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

About Baxter

Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations.

To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.