LONDON, Dec. 23, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $67 billion of capital under management, is pleased to announce that an affiliate has signed a strategic partnership (the “Partnership”) with Queen Mary BioEnterprises Innovation Centre (“QMB”), with an agreement to deliver 40,000 square feet of incubator space at its flagship innovation centre in Whitechapel, London.

H.I.G. and its development partner, Lateral, a UK-based real estate developer, will collaborate with Barts Life Sciences (BLS), Barts Health NHS Trust, Queen Mary University of London (QMUL), and the U.K. Department of Health & Social Care on this project, marking a significant milestone for the Whitechapel Life Science Cluster. The additional space will support the goal of creating a world-class life sciences cluster in the heart of Whitechapel, accelerating the development of life-changing healthcare treatments and outcomes.

Additionally, the development of a state-of-the-art incubator space and its shared services will create a venture-building environment and ecosystem, critical in attracting startup companies and spinouts. QMB’s extensive experience operating incubator spaces will also help deliver long-term, high-quality jobs to the Whitechapel area, foster career pathways, and promote education in the life sciences and STEM sectors.

Jérôme Fouillé, Managing Director at H.I.G. Realty in Europe, commented, “We are thrilled to partner with QMB in developing this first-class incubator space at Cavell Street. Our collaboration marks a significant step in creating a vibrant life sciences cluster in Whitechapel and furthering the growth of H.I.G.’s life sciences real estate platform in the U.K. By providing high-quality facilities and support services, we are cultivating an environment where innovative startups can thrive and contribute to groundbreaking health outcomes.”

Ted Webster, Chairman of QMB, commented, “Our partnership with H.I.G. is an exciting opportunity to expand our proven model of supporting life science startups. The new space will enable us to nurture the next generation of innovative companies, providing them with the resources and conditions they need to succeed. We are committed to driving scientific advancement and delivering significant benefits to the local community and beyond.”

About Queen Mary BioEnterprises Innovation Centre

The existing QMB incubator opened in 2011 as London’s first completely new-built facility for both early and late-stage chemistry and biology start-ups, offering 39,000 square feet of commercial wet laboratory and office space. QMB’s long track record of supporting the growth of innovative companies and facilitating access to the world-class facilities at Queen Mary University of London’s School of Medicine and Dentistry has proven a huge success. This proven expertise ensures that the new incubator space at Cavell Street will provide a nurturing environment for emerging life science companies to innovate and grow. For more information, visit qmbioenterprises.com.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $67 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and its affiliates. Advertisement

Contact:

Riccardo Dallolio
Managing Director
[email protected]

Jérôme Fouillé
Managing Director
[email protected]

H.I.G. Capital
10 Grosvenor Street
2^nd Floor
London W1K 4QB
United Kingdom
P +44 (0) 207 318 5700
hig.com

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Committed to fostering skilled professionals in modern energy and industry, the Company promotes sustainable industrial growth

KARACHI, Pakistan, Dec. 23, 2024 /PRNewswire/ — Twenty employees from Pakistan’s Thar Coalfield Block I Energy Integration Project recently completed an intensive eight-day training program in Shanghai and Beijing, China. The program, which is part of Shanghai Electric‘s (SEHK:2727, SSE:601727) talent upskilling initiative, provided the participants with hands-on learning opportunities and in-depth insights to upgrade their skillsets and knowledge, marking another step in Shanghai Electric’s broader efforts to nurture local talent and contribute to the sustainable development of Pakistan’s energy sector.

The trainees, including managerial and technical roles from the project, were immersed in a set of activities designed to equip them with the latest insights into energy and industrial development. Highlights of the program included seminars on Shanghai Electric’s corporate culture and advanced technologies, as well as visits to the Shanghai Boiler Works production site. The group also toured Shanghai Electric’s headquarters, where they explored the company’s vision of Create Our Future Together, strengthening their understanding of the company’s approach to innovation and collaboration.

“It was an enriching experience to closely observe the rich culture of China and learn more about Shanghai Electric’s operations. This program has inspired me to work harder toward achieving the company’s goals and my personal learning aspirations,” Zia ul Qama, Manager of Commercial Operations at the Thar Project, reflecting on the experience.

The Thar Coalfield Block 1 Energy Integration Project, operational since February 2023, plays a vital role in addressing Pakistan’s energy demands with an annual output capacity of 9 billion kilowatt-hours, powering nearly 4 million households. More than just an energy provider, the project reflects Shanghai Electric’s commitment to fostering sustainable growth and social progress.

By introducing targeted initiatives to enhance opportunities for women, Shanghai Electric has worked with the project to foster a supportive and equitable environment, contributing to meaningful progress in workplace inclusivity within the region. The company culminated in a new recognition, the Women Empowerment and Gender Equality Award in 2023, from the Employers’ Federation of Pakistan and the International Labour Organization.

Shanghai Electric’s endeavors on the sustainability front also earned it an accolade, Contributors to Shared Prosperity, at the 16th Annual CSR Summit held in August 2023, an event that marks the tenth anniversary of the launch of the China-Pakistan Economic Corridor (CPEC).

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DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES

FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website. 

TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”

As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.

Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

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