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Add-on: Bluewater
3t Acquires Technical Training Company for the Oil Sector GTSC
Majority owned by Bluewater, 3t (£49.4 million of revenue in 2022, South West / ENG), a provider of training solutions for the energy sector, particularly for the offshore and onshore industries, using innovative technologies such as virtual reality and advanced simulation to deliver effective training, acquires Gulf Technical & Safety Training Centre (GTSC) (Abu Dhabi / ARE), a provider of technical, safety and health training for the oil, gas, industrial and marine sectors. With the acquisition of GTSC, 3t extends its international coverage and strengthens its presence in Saudi Arabia, the United Arab Emirates and Egypt.
Acquisition: Turenne Group
Turenne Group Invests in Software Publisher Sydev
Turenne Capital announces a minority investment of €10 million in Sydev (Auvergne-Rhône-Alpes / FRA), a publisher of management software dedicated to professionals in the building trades, covering aspects such as costing and quotation design, purchasing management, intervention management and worksite management. Turenne participated in the transaction via its Turenne Emergence II fund and via the Société de Libre Partenariat Sélection & Opportunités (SLP S&O) vehicle. Turenne Capital will support Sydev in the pursuit of its acquisition strategy aimed at broadening its offering, penetrating new markets and enriching its value proposition.
Acquisition: Warburg Pincus
Digital Adoption Platform Developer Whatfix Raises $125 Million
Whatfix (California / USA), a developer of Digital Adoption Platforms (DAPs) to help companies simplify user integration and training on software applications, thanks to interactive guides, tutorials and real-time guidance to improve user productivity and engagement, raises $125 million in a Series E round led by new shareholder Warburg Pincus, with participation from existing investor SoftBank Vision Fund 2. This investment will enable Whatfix to expand its product portfolio and accelerate its organic growth and strategic acquisitions. The round now values Whatfix at $900 million, 50% higher than its valuation in the Series D financing round led by SoftBank Vision Fund 2 in 2021, with the participation of Eight Roads.
Exit: Ged Capital
Novapet Acquires Packaging Producer ENSO
Envases Soplados (ENSO) (Andalusia / ESP), producer of PET (polyethylene terephthalate) packaging dedicated for the food market, has taken over Novapet (Aragon / ESP), a company specializing in the production of PET (polyethylene terephthalate) resins for the packaging industry, in particular for beverages, food products and consumer goods. This merger will enable the new group to consolidate its position as a major player in the PET packaging market on the Iberian Peninsula. This transaction also marks the end of the partnership between ENSO and GED Capital, its majority shareholder since 2018.
