Advent International

CCC Intelligent Solutions Announces Proposed Secondary Offering of 20 Million Shares of Common Stock

Retrieved on: 
Wednesday, January 3, 2024

CCC Intelligent Solutions Holdings Inc. (the “Company”) (NASDAQ: CCCS) today announced the proposed secondary offering of 20 million shares of the Company’s common stock (the “Offering”) by affiliates of Advent International, L.P. (the “Selling Stockholders”).

Key Points: 
  • CCC Intelligent Solutions Holdings Inc. (the “Company”) (NASDAQ: CCCS) today announced the proposed secondary offering of 20 million shares of the Company’s common stock (the “Offering”) by affiliates of Advent International, L.P. (the “Selling Stockholders”).
  • The shares will be offered from time to time for sale through negotiated transactions or otherwise at market prices prevailing at the time of sale.
  • The Offering consists entirely of shares of the Company’s common stock to be sold by the Selling Stockholders, and the Company will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders.
  • J.P. Morgan, Barclays and Citigroup are acting as joint book running managers for the Offering.

The Wall Street Journal Publishes False Story on Fisher Investments Sale

Retrieved on: 
Wednesday, January 3, 2024

PLANO, Texas, Jan. 2, 2024 /PRNewswire/ -- Yesterday, The Wall Street Journal posted a false story claiming Fisher Investments was being purchased by a private equity company, Advent International. The story was attributed to "sources familiar with the matter"—PR parlance for "rumors."

Key Points: 
  • Fisher Investments is not for sale and is not being purchased by anyone.
  • PLANO, Texas, Jan. 2, 2024 /PRNewswire/ -- Yesterday, The Wall Street Journal posted a false story claiming Fisher Investments was being purchased by a private equity company, Advent International.
  • Had The Wall Street Journal's reporters bothered to verify the facts, we would have corrected their reporting.
  • Instead, The Wall Street Journal printed the rumors first and followed up with us last.

NEORIS Strengthens Position in U.S. Market with Strategic Acquisition of ForeFront​

Retrieved on: 
Wednesday, December 20, 2023

ForeFront is to join NEORIS as a wholly-owned U.S.-based subsidiary and looking to accelerate NEORIS’ growth in the U.S. market as well as to spearhead NEORIS’ Salesforce practice worldwide.

Key Points: 
  • ForeFront is to join NEORIS as a wholly-owned U.S.-based subsidiary and looking to accelerate NEORIS’ growth in the U.S. market as well as to spearhead NEORIS’ Salesforce practice worldwide.
  • View the full release here: https://www.businesswire.com/news/home/20231220287045/en/
    NEORIS Strengthens Position in U.S. Market with Strategic Acquisition of ForeFront (Photo: Business Wire)
    The acquisition of ForeFront is another step toward NEORIS’ goal of strengthening its positioning and accelerating its expansion plans in the U.S. market.
  • The strategic partnership between NEORIS and Forefront will aim to revolutionize the digital market and expand the boundaries of innovation.
  • "We are excited to welcome the ForeFront team to NEORIS," said Martín Mendez, CEO of NEORIS.

EQS-News: Atlantic BidCo has secured more than 95% of shares in Aareal Bank AG – Intention to initiate squeeze-out of minority shareholders

Retrieved on: 
Tuesday, December 26, 2023

Frankfurt, November 22, 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) has secured more than 95% of the shares in Aareal Bank AG (“Aareal Bank”) and plans to initate a squeeze-out of the remaining minority shareholders to acquire all remaining shares of Aareal Bank.

Key Points: 
  • Frankfurt, November 22, 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) has secured more than 95% of the shares in Aareal Bank AG (“Aareal Bank”) and plans to initate a squeeze-out of the remaining minority shareholders to acquire all remaining shares of Aareal Bank.
  • The management board of Aareal Bank has been informed of this intention by Atlantic BidCo.
  • According to the current status (today 2pm), the public delisting tender offer (the “Delisting Offer”) by Atlantic BidCo to the shareholders of Aareal Bank has been accepted for approx.
  • Thus, the last trading day of the Aareal Bank shares on the Frankfurt Stock Exchange was November 21, 2023.

UNITE HERE Local 11: Strike Deadline This Weekend for Advent International-owned Aimbridge Hospitality Hotels in Los Angeles

Retrieved on: 
Wednesday, December 13, 2023

Workers at the Sheraton Park Anaheim operated by Aimbridge walked out on strike again today as the company has failed to agree to a new collective bargaining agreement.

Key Points: 
  • Workers at the Sheraton Park Anaheim operated by Aimbridge walked out on strike again today as the company has failed to agree to a new collective bargaining agreement.
  • On October 23, 2023, the Los Angeles Times published an in-depth article reporting that several prominent Los Angeles hotels had brought in unhoused refugees from Venezuela and Colombia to replace their own workers during recent strikes.
  • The $463 billion California Public Employees Retirement System , which has invested $2.9 billion in Advent, is in the process of engaging with the firm regarding issues with Aimbridge Hospitality.
  • UNITE HERE Local 11 is a labor union representing more than 32,000 hospitality workers in Southern California and Arizona that work in hotels, restaurants, universities, convention centers and airports.

Sephora Announces New Class of Brand Founders for 2024 Accelerate Incubator Program

Retrieved on: 
Tuesday, December 12, 2023

Today, Sephora North America announced the names of eight BIPOC brand founders who will join its 2024 Accelerate program, a longstanding brand incubator that supports emerging beauty businesses.

Key Points: 
  • Today, Sephora North America announced the names of eight BIPOC brand founders who will join its 2024 Accelerate program, a longstanding brand incubator that supports emerging beauty businesses.
  • Now in its ninth year, the Sephora Accelerate program continues to focus on building a community of innovative, inspirational brand founders in the beauty space; it creates a foundation, network, and ecosystem for brands to launch and thrive.
  • “We are thrilled to reveal the 2024 finalists of the Accelerate program and officially welcome them to the Sephora family,” shared Kristin Odegaard, Sr. Director, Merchandising Strategy and Business Development at Sephora.
  • The 2024 Accelerate class will also receive access to 1:1 personalized consulting with Front Row and Clarity Media , plus a dedicated advisory team comprised of beauty industry partners, founders from within the Sephora portfolio and financial professionals.

UNITE HERE Local 11 Files Federal Labor Charge Against Holiday Inn LAX, Alleging that Manager Unlawfully Prohibited Unhoused Refugee From Talking About Their Labor Conditions

Retrieved on: 
Thursday, November 30, 2023

The article reported that the Los Angeles district attorney was concerned about “potential wage theft and violations of child labor law.” The article also featured interviews and photographs of several of these unhoused workers.

Key Points: 
  • The article reported that the Los Angeles district attorney was concerned about “potential wage theft and violations of child labor law.” The article also featured interviews and photographs of several of these unhoused workers.
  • As the labor charge alleges, when the agency workers arrived at the hotel, a high-level manager greeted them and immediately warned them not to talk to anyone who was asking about their working conditions.
  • The labor charge, which is pending investigation, alleges that this constituted an implied threat in violation of federal labor law and an unlawful prohibition against workers’ exercise of federally protected rights.
  • UNITE HERE Local 11 is the union of more than 32,000 workers in hotels, restaurants, airports, sports arenas & convention centers in So.

Advent International Appoints Wealth Management Executive Tricia Rothschild as Operating Partner

Retrieved on: 
Monday, 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.

Key Points: 
  • 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.
  • “Technology continues to disrupt the wealth management industry, creating significant and unprecedented opportunity for investment, product innovation and transformational growth.

CD&R Announces New Partners

Retrieved on: 
Tuesday, December 12, 2023

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- Clayton, Dubilier & Rice ("CD&R" or the "Firm") announced today the appointment of three new Partners – Sid Jhaver, Jon Selib and Bill Berutti.

Key Points: 
  • NEW YORK, Dec. 12, 2023 /PRNewswire/ -- Clayton, Dubilier & Rice ("CD&R" or the "Firm") announced today the appointment of three new Partners – Sid Jhaver, Jon Selib and Bill Berutti.
  • He has played a key role in the Firm's investments in UDG and the creation and development of Sharp and Inizio.
  • Mr. Jhaver has spent the majority of his career evaluating private investment opportunities in the healthcare sector.
  • Prior to joining CD&R, he worked for EQT Partners and Advent International.

Biometrics Market size to grow by USD 27.43 billion from 2022 to 2027 | Increasing demand and enhanced security to drive the market growth - Technavio

Retrieved on: 
Friday, December 1, 2023

NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The Biometrics Market size is estimated to increase by USD 27.43 billion, accelerating at a CAGR of almost 12.85% between 2022 to 2027.

Key Points: 
  • NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The Biometrics Market size is estimated to increase by USD 27.43 billion, accelerating at a CAGR of almost 12.85% between 2022 to 2027.
  • The global biometrics market is driven by increased demand and an enhanced emphasis on security.
  • The report provides actionable insights and estimates the contribution of all regions to the growth of the global biometrics market.
  • Gait Biometrics Market: The gait biometrics market size is estimated to grow at a CAGR of 10.16% between 2022 and 2027.