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CFGI Acquires Leading German CFO Advisory Firm PAS Financial Advisory AG

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BOSTON and STUTTGART, Germany, May 2, 2024 /PRNewswire/ — CFGI, a leading global accounting and business advisory firm and a portfolio company of Carlyle and CVC Capital Partners, today announced that it has signed an agreement to acquire PAS Financial Advisory AG, a major German non-audit accounting advisory firm with a robust presence spanning nine offices across Germany and more than 100 employees. 

PAS Financial Advisory AG serves public and private clients, offering a comprehensive suite of accounting, reporting, process, and valuation advisory services tailored to address the evolving needs of organizations across the business lifecycle. Comprising professionals with extensive corporate and Big Four experience, PAS delivers unparalleled expertise without the constraints of auditor independence, providing clients with agile solutions to complex challenges.

CFGI continues its strategic international growth trajectory with this latest acquisition, further solidifying its position as an industry leader in the provision of integrated financial and non-financial reporting advice, technical accounting, risk advisory, and transaction services.

“We are thrilled to welcome PAS Financial Advisory AG to the CFGI family,” commented CFGI Co-CEO Nick Nardone. “This partnership marks a significant milestone in our continued commitment to expanding our global footprint and enhancing our service offerings to meet the evolving needs of our clients.”

Shane Caiazzo, CFGI Co-CEO, added: “CFGI is building on its position as a world-class independent accounting and business advisor to CFOs everywhere, supporting their most important regulatory compliance and business improvement initiatives. The addition of PAS gains us both a leadership position within the German market and a great team sharing the same mindset regarding our approach to the market, client service, and product offerings.”

“I’m extremely excited about the future and what this combination will offer both our employees and our clients,” said Markus Groß, CEO of PAS Financial Advisory AG. “Joining forces with CFGI strengthens our abilities to serve our clients in increasingly complex regulatory environments. The resulting partnership maintains our commitment to cultivating top talent and delivering outstanding client service while expanding our ability to serve clients as a global advisory partner. We thank our clients for their trust in us and the unique partnerships this has created.”

The combined business serves a diverse customer base across industries, including life sciences, manufacturing and distribution, private equity, technology, software, energy, and financial services.

For media inquiries, please contact:

CFGI Media Contact:
Rachel Tucker Bobbitt, Regional Support Manager
[email protected]

PAS Financial Advisory AG Media Contact
Markus Groß CEO
[email protected]

About CFGI
CFGI, a Carlyle and CVC Capital Partners portfolio company, is a leading global accounting and business advisory firm. We partner with our clients on their most important regulatory, transaction, and business improvement initiatives. Our team of over 1,000 former Big 4 professionals brings expertise across technical accounting, capital markets, tax, valuation, ESG, transaction advisory, restructuring, and technology solutions — all delivered with an independent and roll-up-the-sleeves approach. CFGI was founded in 2000 and serves thousands of global clients across 19 offices throughout the Americas, Europe, and the Asia Pacific regions.

Learn more at www.cfgi.com.

About PAS Financial Advisory AG
PAS Financial Advisory has become one of the largest and most renowned German non-audit financial advisory firms specializing in the delivery of best-in-class advisory services along the CFO agenda. With a dedicated team of experts, PAS Financial Advisory works closely with its clients to develop customized solutions for their individual needs – from DAX40 and mid-sized companies to innovative start-ups, as well as private equity investors and their portfolio companies. 

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Tan Xuguang: Driving Strategic Collaboration with Leading Global Industry Enterprises

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MUNICH, May 24, 2024 /PRNewswire/ — From May 22nd to 23rd, 2024, Tan Xuguang, along with a delegation, convened in Munich, Germany, to conduct a visit and engagement with prominent entities including Germany’s TÜV Süd Group, FEV GmbH, and MAN Truck & Bus Group, a subsidiary of the Volkswagen Group. The primary objective of this initiative was to tackle the challenges posed by the advent of the new technological landscape. Central to this endeavor was the establishment of a succession of strategic cooperation agreements aimed at harmonizing global cooperation frameworks.

On May 23rd, 2024, Tan Xuguang and his delegation paid a visit to the MAN Truck & Bus Group, operating under the Volkswagen Commercial Vehicles Traton Group. During this visit, they engaged in comprehensive discussions with Christian Levin, who serves as both the Chairman and CEO of the Volkswagen Commercial Vehicles Traton Group and as the President and CEO of the Scania Commercial Vehicles Group. The focal point of these discussions revolved around the anticipated competitive dynamics and technological trajectories within the global commercial vehicle industry.

Christian Levin articulated, “Throughout the past year, our management teams have participated in numerous efficient and pragmatic visits and exchanges, resulting in the elevation of our cooperative relationship to unprecedented heights. We hold deep admiration for the accomplishments of the Sinotruk Group within the global heavy-duty truck market in recent years. The alignment of our industrial chain layouts presents mutually beneficial synergies, paving the way for extensive strategic cooperation opportunities. We eagerly anticipate the deepening of exchanges and collaboration within the realm of new technologies, with the overarching goal of achieving development that is mutually advantageous.”

Tan Xuguang asserted, “The Volkswagen Commercial Vehicles Traton Group has consistently served as a benchmark from which we derive invaluable insights. The longstanding successful collaboration between the Sinotruk Group and the MAN Truck & Bus Group in Germany spanning 15 years underscores our status as close strategic partners. Irrespective of past, present, or future, our alliance remains steadfast. We are resolutely committed to broadening cooperation across the comprehensive spectrum of ‘traditional energy + new energy’ and dual industrial chains, thereby facilitating win-win outcomes in the global arena of cooperation and competition.”

Tan Xuguang and his delegation conducted a tour of the intelligent heavy truck factory operated by the MAN Truck & Bus Group. Throughout the duration of the visit and ensuing discussions, Alexander Vlaskamp, Chairman and CEO of the MAN Truck & Bus Group, provided continuous accompaniment, offering insights and facilitating exchanges.

On May 22nd, 2024, Tan Xuguang presided over a strategic technology seminar held in Munich, facilitating collaboration between Weichai and the German engine technology consulting company, FEV. The seminar brought together experts from both FEV and Weichai headquarters, fostering extensive exchanges and discussions pertaining to product enhancements, competitive benchmarking, and future strategic planning.

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2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia

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None Group, a leading blockchain group, today released its 2024 Blockchain Critical Trend report, providing a comprehensive overview of the blockchain ecosystem in Taiwan and Southeast Asia. The report highlights key trends, regulatory frameworks, and emerging opportunities for businesses, investors, policymakers, and technology enthusiasts.

Blockchain Critical Trend” released by None Group is now available for download.

Southeast Asia Emerges as a Global Financial Hub with Blockchain at the Forefront

Southeast Asia, with its unique financial landscape and over 400 million active internet users, has become a global financial hotspot, especially in the wake of the pandemic. Recognizing this opportunity, None Group has collaborated with strategy partners such as the Taiwan FinTech Association, Bitcoin Addict (Thailand), Coin98 (Vietnam), Coinvestasi (Indonesia), and Malaysia Blockchain Week to bring together 14 industry leaders to share their market insights and unveil exclusive investment opportunities.

To further promote cross-border collaboration between Southeast Asia and Taiwan, None Group will host blockchain trend release events in Vietnam and Taiwan. The Vietnam event will be held on June 5, while the Taiwan event is scheduled for July 10. These events will focus on industry trends and related blockchain topics.

Key Highlights of the 2024 Blockchain Critical Trend

The 2024 Blockchain Critical Trend report unveils the Southeast Asia blockchain landscape, covering various segments and project details. The report highlights three key takeaways:

  • Focus and Attitudes of Southeast Asian Governments
  • Expert Insights into the Industry Ecosystem
  • Cross-Border Collaboration Opportunities and Potential Explosion Points

Read the full 2024 Blockchain Critical Trend (TaiwanThailandVietnamIndonesiaMalaysiaSingaporePhilippines)

The post 2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia appeared first on HIPTHER Alerts.

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ONCOCLÍNICAS APPROVES R$ 1.5 BILLION CAPITAL INCREASE

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Operation aims to strengthen the Company’s financial position and maintain growth strategy

SAO PAULO, May 23, 2024 /PRNewswire/ — Oncoclínicas&Co (B3: ONCO3), a leading oncology company headquartered in Latin America, has announced that the enterprise has approved a capital increase of R$ 1.5 billion at a Board of Directors meeting held on May 22, 2024.

This capital increase complies with the ceiling established within the company’s Articles of Association and does not require any statutory change. The capital increase will be carried out through the issuance of 115.4 million new registered ordinary shares with no par value.

With this issuance, Oncoclínicas&Co strengthens its capital structure, significantly reduces leverage, and increases liquidity to continue to provide better access to advanced oncology treatments to cancer patients, achieve economies of scale, and optimize the costs associated,

Investors of the Quíron Multi-Strategy Equity Investment Fund (“Quíron”) and the Tessália Multi-Strategy Equity Investment Fund (“Tessália”), investment vehicles anchored by Banco Master, entered into an investment agreement with the company and committed to subscribe up to R$ 1 billion of new shares, to be issued by Oncoclínicas&Co.

In addition, founding shareholder and CEO Bruno Lemos Ferrari announced his intention to subscribe up to R$ 500 million worth of new shares.

“The capital increase significantly strengthens our capital structure and makes us even better equipped to take advantage of future growth opportunities, while continuing to provide exceptional quality care with an acute focus on our patients and their families,” emphasized Ferrari.

The terms of the capital increase provide for the issuance of new shares at a price of R$ 13.00 per share, representing a premium of 89% over the market value, based on a recent valuation by XP Finanças Assessoria Financeira Ltda. The funds raised will be used to reduce the company’s consolidated debt, improve its cash position, maintain its growth strategy, continue its organic expansion plans, and for general corporate use.

Josephina Multi-Strategy Equity Investment Fund and Josephina II Multi-Strategy Equity Investment Fund (together the “FIPs”), investment vehicles of Goldman Sachs, have agreed to transfer their respective preferential rights to the investors of Quíron and Tessália as part of the capital increase.

Daniel Vorcaro, President of Banco Master, emphasized that “…Healthcare is one of the markets with the greatest growth potential in Brazil in the coming years, whether in the pharmaceutical industry, primary care or high value-added services, arenas where Oncoclínicas&Co occupies a prominent position in Latin America. Being part of a company that is revolutionizing access to oncology treatments in the country, alongside Goldman Sachs, is a great opportunity and indeed a privilege for our company to undertake.”

According to João Padin, Vice President of Corporate Equity Investments at Goldman Sachs Asset Management, the transaction demonstrates the attractiveness and strength of Oncoclínicas&Co’s business model.

“The funds raised are important for continuing the growth strategy and strengthening the Group’s capital structure. In this way, Oncoclínicas&Co underlines the solidity of its business and its commitment to the quality of the services offered to patients,” he added.

The notice to shareholders is available on the Investor Relations website of Oncoclínicas&Co, the CVM website and the B3 S.A. website.

Oncoclínicas&Co reaffirms its commitment to transparency and corporate governance and will keep its shareholders and the market informed of the next steps in this capital increase process.

Note To Editors:

Last year alone, the company carried out more than 600,000 procedures and has expanded its service capacity in recent years to meet the growing demand for cancer treatment. Forecasts from cancer institutes around the world and in Brazil point to a significant increase in the disease over the next two decades, mainly due to an aging population. In Brazil, the National Cancer Institute expects more than 700,000 new cases per year in the period 2023-2025.

For further information, visit http://www.grupooncoclinicas.com

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