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EQT Acquires Leading SaaS Talent Solutions Provider PageUp to Accelerate Global Expansion and Product Innovation

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  • PageUp will leverage EQT’s expertise to accelerate international expansion and drive product innovation in talent management software.
  • EQT’s investment builds on PageUp’s strong track record of expansion through organic growth and strategic acquisitions.
  • The partnership reinforces EQT’s commitment to supporting high-growth software businesses in Asia Pacific and international markets.

STOCKHOLM, Oct. 31, 2024 /PRNewswire/ — EQT and PageUp Group today announced that EQT, a purpose-driven global investment organization, has acquired Australian-founded PageUp, a global leader in SaaS talent acquisition, recruitment marketing, and talent management solutions from existing majority owners, Battery Ventures.

The deal will enable PageUp to leverage EQT’s deep expertise in scaling high-growth global technology businesses to capture greater opportunities in the talent management software space, accelerate its international expansion, and enhance product innovation.

Founded in 1997, PageUp now delivers its cutting-edge talent acquisition and recruitment marketing software to top-tier corporates, universities, hospitals, and public-sector customers worldwide via offices in Australia, North America, and Europe. PageUp’s product suite powers the end-to-end talent management of global brands such as Flight Centre Travel Group, Ramsay Healthcare Australia, Bank of Ireland, Boston Medical Centre, and University of North Texas Systems.

EQT’s investment, through its BPEA Fund VIII (“EQT Private Capital Asia”), builds on PageUp’s operating momentum in achieving substantial organic and acquisition-led growth in recent years. This has included the acquisitions of Clinch in 2019 and eArcu and PathMotion in 2021. With EQT’s investment and strategic backing, PageUp will accelerate its expansion into priority international markets and deepen its offering in key sectors and verticals.

PageUp represents EQT’s latest investment in the Human Capital Management (“HCM”) software sector, which it views as an attractive and dynamic segment as HR professionals leverage technology to meet the challenges of attracting and retaining an evolving global workforce. PageUp adds to EQT’s global portfolio of investments in HCM software businesses across strategies, which includes Peakon, Unmind, Hume, Sana Labs, and HRBrain.

The investment further builds on EQT’s experience supporting market-leading Asia Pacific-based software businesses to capture global market opportunities. EQT will work with PageUp to construct a board of HR technology veterans from members of EQT’s industrial advisor network, pursue targeted inorganic growth opportunities in key markets worldwide, and accelerate the company’s AI product roadmap with help from EQT Digital.

Nicholas Macksey, Partner in the EQT Private Capital Asia advisory team, said: “PageUp’s impressive track record of innovation and growth makes it a standout leader in the talent management space. We are excited to partner with PageUp at this defining moment for the company. We look forward to leveraging EQT’s global reach and sector expertise to accelerate PageUp’s international expansion and amplify its product innovation, particularly in dynamic, high-growth markets. As the human capital management landscape rapidly evolves, we are committed to helping PageUp unlock new opportunities for its clients worldwide. This investment reinforces EQT’s strength in supporting software businesses that align with our core investment themes, allowing us to apply our deep expertise to foster innovation and drive impact in key industries.”

Following the successful completion of the transaction, Mark Rice has announced his intention to retire as CEO of PageUp. Over 13 years (initially as COO/CFO and as CEO for the last six years), Mark has led the Group’s dynamic and profitable growth and driven its international expansion both organically and through several successful acquisitions.

Commenting on the successful acquisition and his decision to retire as CEO, PageUp Group’s outgoing CEO Mark Rice said: “EQT’s investment is a ringing endorsement of our business and the significant opportunities for market and product expansion ahead. After 13 years leading the business, and with EQT’s investment now secured, I have decided that now is the right time for me to retire as CEO, safe in the knowledge the company I have helped build is in safe hands. I am immensely proud of what we have accomplished at PageUp as a team and this decision was made easier knowing the business is well-positioned with supportive partners for its next phase of growth.”

Mark will oversee a transition period with incoming CEO Eric Lochner. Eric has over 25 years of leadership experience scaling SaaS companies globally, most notably HR Tech companies Kenexa, Achievers, and Careerbuilder.com. Eric Lochner said: “Under Mark’s stewardship, PageUp has gone from strength to strength. I am delighted to have accepted the opportunity to step into the CEO role and look forward to working with our new partners in transforming our clients’ hiring experiences and empowering individuals to find opportunities where they are happy, engaged, and fulfilled. With EQT’s expertise and support, we’ll accelerate our strategy with increased focus on customer experience and innovation, including the continued integration of responsible AI to rapidly evolve our platform and enhance the automation of talent management.”

William Blair acted as the exclusive financial advisor to PageUp Group on this transaction. Barclays and Barrenjoey acted as the exclusive financial advisor to EQT on this transaction. 

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With this transaction, BPEA Private Equity Fund VIII is expected to be 80-90 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

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

Contact
EQT Press Office, [email protected]

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WFM Asia Announces Brand Evolution, Bolstering its Commitment to Delivering Investment Excellence in Asia Pacific

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Continues to be a trusted partner for both global institutional investors as well as publicly listed and private companies in Asian markets

HONG KONG, Nov. 4, 2024 /PRNewswire/ — Hong Kong founded independent investment firm WFM Asia announced today that it has completed a brand evolution from Ward Ferry Management. The firm’s long-term commitment to investing in Asian markets, disciplined and focused investment strategy, and well-established team remain unchanged.

The refreshed branding reflects WFM Asia’s continued focus on investing in small and mid-cap companies across Asia Pacific and points to the regional expertise of its current generation of leadership, Vineet Mitera and Daphne Chester, who have been leading the company for the past seven years. Vineet has been with the firm since 2005, and Daphne joined in 2013.

WFM Asia manages long-only equity funds with over US$3 billion in assets under management as of end September 2024. Vineet has been solely responsible for managing these funds since mid-2014. For nearly 25 years, the firm has helped institutional clients from all over the world secure exposure to Asian markets through some of the leading publicly listed and private companies in Asia Pacific.

As a trusted partner for global investors seeking exposure to Asia’s dynamic markets, WFM Asia’s unique position in the investment landscape is reinforced by its extensive local networks in underpenetrated markets, primary research activities on the ground, and commitment to long-term value creation through a focused investment strategy. The firm has been a strong, long-term partner to the management teams of public and private companies it invests in. WFM Asia’s future-focused growth will be enabled through ongoing expansion of its team based in Hong Kong and Singapore, continued focus on executing its long-standing investment process, and strengthening its established relationships with companies across Asia.

Vineet Mitera, Chief Investment Officer of WFM Asia, commented, “We remain positive about the growth of emerging companies in the region, and we continue to build on our trusted partnerships with our investors and management teams. Our entrepreneurial mindset, market and sector expertise, and regional resources remain aligned to our clear investment philosophy, and we look forward to taking the firm’s growth to the next level for the benefit of our investors and employees.”

Daphne Chester, President of WFM Asia, said, “Our brand evolution builds on our long-standing strong Asia heritage and recognition of our management tenure and investment track record in the region. For nearly 25 years, our firm has taken a private equity approach to public markets investing, finding Asian small and mid-cap companies that have multiplied in value over the long term. As we continue to evolve, we remain committed to our investment approach and to cultivating substantial growth in our chosen investments in Asia Pacific.”

WFM Asia will continue to serve its clients through a global team of 33 people, including 13 experienced investment professionals, located across its offices in Hong Kong, Singapore, and London.

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About WFM Asia

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Founded in 2000 as Ward Ferry Management, WFM Asia is a leading independent investment firm based in Hong Kong and Singapore, specializing in long-only public and private equity investments in small and mid-cap companies across Asia. For nearly 25 years, WFM Asia has been a trusted partner to the management teams of the companies it invests in and to institutional investors alike by applying its bottom-up approach to fundamental research and investing its capital for attractive returns over the long term. As of end September 2024, the firm oversees over US$3 billion in assets under management (“AUM”) for global institutional investors.

WFM Asia has offices in Hong Kong, Singapore, and London. WFM Asia’s various group entities are regulated by the United States Securities and Exchange Commission, the Hong Kong Securities and Futures Commission, the Singapore Monetary Authority, the United Kingdom Financial Conduct Authority, and the British Virgin Islands Financial Services Commission. Additional information is available on www.wfmasia.com. 

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ALUMINIUM CHINA 2025: Celebrating 20 Years of Collective Achievements and Embracing a New Chapter

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SHANGHAI, Nov. 4, 2024 /PRNewswire/ — The 20th ALUMINIUM CHINA will take place from July 9-11, 2025, at the Shanghai New International Expo Centre (SNIEC). Organized by RX China, the event will feature over 600 diverse exhibitors showcasing the entire aluminium industry chain. With the theme “Aspirational•Limitless•Unique: 20 Years of Excellence,” the exhibition will span over 60,000㎡ and expects more than 30,000 global professionals. Exciting activities throughout the year will foster international exchange, business cooperation, and celebrate innovation and development in the aluminium sector.

A Year Full of Engagements and Innovations

To mark its twentieth anniversary, ALUMINIUM CHINA will launch various activities aimed at fostering industry connections and showcasing achievements.

  • Exclusive Visits to Top Enterprises

Leading up to next year’s exhibition, the “Visits to Leading Aluminium Enterprises” initiative will offer site visits to prominent companies in the aluminium processing sector. Through tailored one-on-one discussions, this initiative will spotlight the noteworthy accomplishments of these leading enterprises in advancing the aluminium industry. Their invaluable experiences and inspiring growth stories will be shared alongside the exhibition.

  • Dazzling Array of Events

Building on the success of multiple “Exploring Application Industries” events over the past year, which garnered widespread acclaim, the focus remains sharp in 2025, as 2025 marks the 20th anniversary of the exhibition. Efforts will intensify in exploring key application markets such as automotive, packaging, home appliances, 3C electronics, solar photovoltaics, and energy storage. Notable representatives and experts will participate, creating a diverse platform for industry exchange and learning, featuring thematic reports, supply-demand matching, product displays, roundtable discussions, and closed-door meetings.

  • Recognizing Industry Achievements

In the flourishing landscape of the aluminium processing industry over the last two decades, numerous innovative technologies and superior products have emerged, fostering high-quality sectoral growth. To set industry standards and promote healthy development, ALUMINIUM CHINA is proud to introduce the “ALU FUTURE Awards.” This prestigious accolade aims to honor exceptional contributions from enterprises and individuals in the aluminium sector, spanning categories such as the Application Innovation Award, Craftsmanship Award, and Honorary Award for Quality Partners.

  • Enhancing Global Connection Initiatives

Capitalizing on years of amassed international resources, ALUMINIUM CHINA is poised to strengthen initiatives aimed at connecting with overseas markets. By empowering enterprises to reach global markets, a series of activities including overseas market research, trade matchmaking and high-level meetings will be orchestrated in foreign countries and regions. Furthermore, collaborations with international industry associations will be strengthened, spotlighting guest country of honor activities and other international features at the grand 20th-anniversary exhibition.

  • Bridging Industry, Academia, and Research

ALUMINIUM CHINA have meticulously outlined a series of industry-academia-research activities. The specially curated “Innovation Achievements Showcase” will illuminate aluminium material research outcomes from universities and research institutions, showcasing high-performance aluminium alloys and environmentally friendly aluminium-based composites. Attendees will have a unique opportunity to interact closely with cutting-edge technology and witness the allure of innovation. Furthermore, the grand “Empowering Industries of the Future: Aluminium Innovation and Development Symposium” is scheduled, inviting distinguished scholars and industry experts from globally renowned universities to engage in profound dialogues on breakthroughs in aluminium materials research and emerging trends.

Two Decades of Continuous Growth

Since its inception in 2005, ALUMINIUM CHINA quickly emerged as a cornerstone for industry professionals worldwide.  During its early years (2005-2009), the exhibition expanded across various segments of the aluminium processing chain, steadily increasing exhibitors and attendees, surpassing 10,000 visitors. Strategic collaborations with domestic and international associations bolstered its reputation as a premier platform for communication.

From 2010-2014, ALUMINIUM CHINA solidified its role in connecting China’s aluminium sector with the global market. Attendance continued to grow as the exhibition welcomed professionals from over 60 countries, facilitating crucial discussions on market trends and technological innovations.

The subsequent five years saw continued growth, with approximately 400 exhibitors attracting over 24,000 visitors by 2019. ALUMINIUM CHINA emphasized “Technological Innovation for the Future,” showcasing cutting-edge applications of aluminium in sectors such as automotive lightweighting, packaging and consumer electronics through specialized exhibits. Notable collaborations, including featuring “India as the Guest Country of Honor” and “Thailand as the Guest Country of Honor,” opened new avenues for international exchange, enabling domestic companies to engage on a global scale.

Despite unprecedented global challenges during 2020-2024, ALUMINIUM CHINA introduced innovative solutions like online livestreaming and year-round business matchmaking. These adaptations ensured that over 600 exhibitors could connect with 29,000+ professionals from over 100 countries by 2024. The commitment to promoting sustainability was evident through initiatives supporting green practices within the industry.

The celebration of its 20th anniversary marks a momentous milestone for both the event and the enduring growth of the industry. For further insights into ALUMINIUM CHINA, please visit their official website at https://www.aluminiumchina.com/en-gb.html or Facebook page @Aluminium China.

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ARRAY Innovation Celebrates Landmark Success at Gateway Gulf with Three Major Partnership Deals

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MANAMA, Bahrain, Nov. 3, 2024 /PRNewswire/ — ARRAY Innovation, the Bahrain-based leader in AI, enterprise software, and cloud solutions, proudly celebrated a milestone at Gateway Gulf 2024. During the event, organized by the Bahrain Economic Development Board (EDB) in the Kingdom of Bahrain, ARRAY signed strategic agreements with Bahraini organizations: Aluminium Bahrain B.S.C. (Alba), National Bank of Bahrain (NBB), and the Labour Fund (Tamkeen), highlighting ARRAY’s commitment to digital transformation.

ARRAY Chairman, Mr. Khalid Taqi, commented, “Our collaborations with Alba, NBB, and Tamkeen underscore ARRAY’s dedication to Bahrain’s digital transformation journey. We are committed to delivering technology solutions that support local enterprises in sustainable growth and operational excellence.”

“ARRAY’s mission is to develop advanced enterprise software and AI solutions that create high-value jobs for Bahrainis. Our latest agreements with leading Bahraini organizations reflect our vision to positively impact the Bahraini enterprises and communities,” said Alaa Saeed, ARRAY Founder & CEO.

ARRAY’s partnership with Alba focused on AI, data analytics, and automation solutions, driving operational excellence and cost reduction. “Our strategic collaboration with ARRAY marks a significant step towards positioning Alba as a technology-driven industry leader. This partnership will not only advance our Industry 4.0 journey, driving operational excellence, but also aligns with Bahrain Economic Vision 2030 by investing in local talent,” said Alba’s Chairman of the Board, Mr. Khalid Al Rumaihi.

ARRAY’s partnership with the National Bank of Bahrain (NBB) aims to enhance NBB’s technology infrastructure with advanced Natural Language Processing (NLP) and Generative AI. The collaboration will deliver actionable insights, optimize operations, and improve customer experience. “By integrating the latest in artificial intelligence, we are positioned to drive our digital transformation forward, delivering solutions that enrich our customers’ banking experience. Our partnership with ARRAY Innovation underscores our focus on modern technology to reinforce Bahrain’s leadership in financial ingenuity,” said NBB Group CEO Mr. Usman Ahmed.

In its agreement with Tamkeen, ARRAY will develop an AI-powered job-matching solution boosting Bahrain’s economic growth through strategic private sector alignment. Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, highlighted, “By enhancing both internal and external operations through this partnership, we aim to maximize the impact of our initiatives and increase opportunities for Bahraini talent within the private sector.”

These landmark agreements underscore ARRAY’s role as a trusted partner in Bahrain’s digital transformation, empowering organizations to drive efficiency and growth aligned with Bahrain’s Economic Vision 2030.

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