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EQT Private Equity to Acquire Avetta from WCAS

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  • Avetta’s platform is the world’s largest supply chain risk management network with over 500 hiring clients and 130,000 suppliers across more than 130 countries
  • Avetta’s solution improves the resilience of supply chains worldwide by helping hiring clients and suppliers manage their supply chain risk effectively and improve safety, security, sustainability, worker competency, and performance across major industries
  • EQT commits to supporting Avetta in its ongoing growth and innovation journey

NEW YORK, April 2, 2024 /PRNewswire/ — EQT Private Equity announced today that the EQT X fund (“EQT”) has agreed to acquire Avetta (the “Company”) from Welsh, Carson, Anderson & Stowe (“WCAS”). Avetta is a global leader in supply chain risk management software.

For more than two decades, Avetta’s innovative SaaS platform has enabled clients to manage supply chain risks across health, safety, and sustainability, among other risk vectors. With 12 offices around the globe and more than 750 employees, Avetta’s global network spans over 130 countries, empowering over 500 hiring clients and 130,000 contractors to reduce accidents, improve compliance rates, and achieve higher levels of operational, sustainability, and ethical excellence.

Global supply chains face increasing complexity from globalization and digitization, as well as heightened safety, compliance and sustainability requirements. As an established, cloud-based SCRM platform backed by decades of innovation and with global scale, Avetta is well-positioned to help clients manage this complexity, creating higher resilience in global supply chains.

By leveraging its global footprint, purpose-driven approach, and digital and sustainability expertise, EQT will support Avetta’s ongoing growth journey. Through the development of new products and technologies, adoption of AI / automation, and global expansion, Avetta will further enhance its value proposition to both hiring clients and suppliers. Together, EQT and Avetta are committed to investing in innovation to address the critical challenges facing global supply chains today.

Arvindh Kumar, Partner and Co-Head of Technology within EQT’s Private Equity Advisory Team, said, “Avetta’s leadership position, world-class SaaS platform, and commitment to ESG represent a highly thematic investment opportunity for EQT. As one of the most active technology investors worldwide, EQT has deep software expertise and a broad network of advisors in the space. We look forward to partnering with Avetta and the management team on its next phase of growth and are excited to address some of the most pressing challenges in the supply chain sector.”

“Our partnership with EQT propels Avetta into a new era of innovation and growth, reinforcing our dedication to fostering safer, more sustainable workplaces across our global clients and suppliers,” remarked Arshad Matin, CEO of Avetta. “This transition is not just a significant milestone for Avetta but for the supply chain risk management (SCRM) industry at large. With the support of EQT, we are poised to enhance our product suite and operational reach further, as demonstrated by `Ask Ava,’ our pioneering generative AI risk assistant. As we embrace this exciting phase of expansion, we extend our deepest gratitude to WCAS for their unwavering support and partnership over the past six years.”

Christopher Hooper, General Partner at WCAS, stated, “WCAS is proud to have helped guide Avetta’s strategic evolution and achievement of substantial growth, both organically and through strategic acquisitions. Avetta is an excellent example of how WCAS supports accelerating value creation and driving technology businesses to the next level. With our co-investors TCV and Norwest Ventures Partners (NVP), we’re proud to have helped transform Avetta into a leading network for managing third-party supplier risk across a broad array of risk types including safety, business risk, ESG and workforce management.”

“Critical to this transformation has been the assembly of a world-class management team, led by Arshad Matin. Their leadership has been pivotal in Avetta’s enterprise scaling and innovation,” said Mr. Hooper. “We are confident in Avetta’s continued success under EQT’s ownership, assured that the foundation we’ve built will continue to thrive and set new benchmarks.”

With this transaction, EQT X is expected to be 35-40 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on the actual fund size and subject to customary regulatory approvals.

The transaction is subject to customary conditions and approvals and slated for completion in the coming months, pending customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.

Advisors

Goldman Sachs & Co. LLC served as exclusive financial advisor and Kirkland & Ellis served as legal counsel to Avetta. Citi served as exclusive financial advisor and Ropes & Gray served as legal counsel to EQT.

Contacts:
For EQT: 
[email protected]

For WCAS:
Fran Higgins
212 893-9504
[email protected]

Greg Lau
212 893-9586
[email protected]

For Avetta:
Jenn Zimmer
[email protected] 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-private-equity-to-acquire-avetta-from-wcas,c3954784

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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