Welcome!

Search Authors: Liz McMillan, Jayaram Krishnaswamy, Elizabeth White, Aditya Banerjee, Sematext Blog

News Feed Item

Silver Lake Kraftwerk Announces Majority Stake in friedola®Tech, Marking First Co-Investment with Kleiner Perkins Caufield & Byers

Investment Will Support Scale, Growth and Geographic Expansion for Leading Recycled Plastics Supplier

MENLO PARK, Calif., Nov. 28, 2012 /PRNewswire/ -- Silver Lake Kraftwerk, a leading global growth capital investment strategy focused on energy and resource innovation, today announced a commitment of €31 million (USD$40.1 million) in friedola®Tech, a premier recycled plastics processing company that produces high-quality, environmentally-friendly products and components for the automotive and packaging industries. Silver Lake Kraftwerk is the energy investment strategy of Silver Lake, the world's leading investor in the global technology industry.

The investment will provide growth capital to enable further product innovation, development in key market segments and expansion into new geographic regions, including the opening of a world-class manufacturing facility in Greenville, South Carolina.

Under the terms of the transaction, WHEB Partners, a European-based resource efficiency private equity firm, has agreed to sell its majority stake in friedola®Tech to Silver Lake Kraftwerk while remaining an important shareholder. Once the transaction has closed, Silver Lake Kraftwerk will become the majority owner, alongside existing co-investor Kleiner Perkins Caufield & Byers (KPCB), which co-led the transaction and increased its ownership of friedola®Tech. This transaction marks the first co-investment between Silver Lake and KPCB.

Based in Geismar, Germany, friedola®Tech is a leading manufacturer and marketer of recycled plastic products with a focus on the automotive and packaging sectors. The company supplies lightweight, recyclable and environmentally-friendly plastic solutions to a variety of industries and boasts an innovative and proprietary product portfolio, including their signature product platform, CON-Pearl. As a Tier-1 supplier, friedola®Tech's plastic solutions are a key component in the lightweight efforts of a number of their customers, including leading car manufacturers.

A leader in innovative environmental technologies, friedola®Tech directly contributes to improved emissions and fuel economy standards in the automotive industry, and greater efficiency in the logistics and packaging sectors. 

"We are excited to partner with WHEB and KPCB as investors in friedola®Tech," said Josh Raffaelli, Partner, Silver Lake Kraftwerk. "There is a growing global market for engineered plastics and industrial products that are lightweight and reusable. friedola®Tech is uniquely positioned as a market leader in this industry and we are eager to support their growth and expansion."

Silver Lake Kraftwerk invests in companies that leverage technology and business model innovation in the energy and resource industries. Its stake in friedola®Tech marks Silver Lake Kraftwerk's first major investment in resource efficiency and its first investment outside of the United States.

"We look forward to working with Silver Lake Kraftwerk, KPCB and WHEB Partners as we position friedola®Tech for continued growth and expansion," said Christoph Holzapfel, Chief Executive Officer, friedola®Tech. "With Silver Lake's global presence, technology expertise and focus on value creation, we are confident the firm will make an excellent partner as we grow our business," added Werner Eisenhardt, Chief Financial Officer, friedola®Tech.

"friedola®Tech is a great success story," said Jorg Sperling, a Partner at WHEB Partners. "The company was an under-appreciated asset after facing serious challenges during the 2008/09 crisis in the global automotive industry. By stabilizing the company financially and by pursuing growth aggressively, friedola®Tech is now the leading provider of highly innovative, recyclable and lightweight plastic components used in a variety of industries. The company is now ready to expand in the United States and we are thrilled to bring such a renowned investor, Silver Lake Kraftwerk, on board to support the company's internationalization."

Advisers on the deal were Blackwood Capital Group (M&A support for WHEB Partners and friedola®Tech), Taylor Wessing (legal adviser to friedola®Tech), mb+p (Commercial Due Diligence), Deloitte (Financial Due Diligence), WilmerHale (legal adviser to Silver Lake Kraftwerk) and Hogan Lovells (legal adviser to Kleiner Perkins Caufield & Byers).

The deal is currently pending anti-trust approval by the German authorities.

About Silver Lake Kraftwerk
Silver Lake Kraftwerk (SLK) is an initiative of Silver Lake Partners, the global leader in private investments in technology and technology-enabled industries, and strategic partner Soros Fund Management, LLC. SLK is designed to provide growth capital to late-stage innovators in the energy and resource sectors.

About Kleiner Perkins Caufield & Byers 
Kleiner Perkins Caufield & Byers (KPCB) has backed entrepreneurs in more than 500 ventures leading to 150 IPOs, 350,000 jobs and a deep strategic network. The firm has helped build pioneering companies like Align, Amazon, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Symantec, VeriSign and WebMD.  KPCB partners serve on the boards of Amazon, Apple, Bloom Energy, Flipboard, Foundation Medicine, Google, Hewlett-Packard, Nest, Square, Tesaro and Zynga, among others.  KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy, operational scaling, recruiting, business development and product delivery. The firm invests in all stages from seed and incubation to growth companies.  KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. http://www.kpcb.com.

About WHEB Partners
WHEB Partners is a European private equity manager that invests in resource efficiency companies with high growth potential. It was founded in 2003 and has offices in London and Munich. The company manages GBP130m in two private equity funds on behalf of institutional and private clients. More information at: www.whebpartners.com.  

WHEB Partners is supported by the European Union's Competitiveness and Innovation Framework Programme (the CIP).

Media Contacts:
Trina Smith
(415) 671 7676 
Brunswick Group (San Francisco) for Silver Lake

Toby Guise 
+ 44 (0) 207 286 3404 
WHEB Partners

SOURCE Silver Lake Kraftwerk

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...