Daily Update: Infomedia Acquires Veact; Tim Hortons China Raises Debt & Names New Leadership; Wee Hur Expands in Hong Kong; Park Systems Secures Strategic Financing

AUSTRALIA’S INFOMEDIA ACQUIRES VEACT IN EUROPE TO EXPAND AUTOMOTIVE AFTERSALES ECOSYSTEM

Australia-based Infomedia, a global player in automotive aftersales technology, Tuesday said it has acquired Germany-based Veact GmbH, an  European provider of data activation, predictive service marketing, and aftersales customer management solutions in the automotive industry. Financial terms of the transaction were not disclosed.

Based in Munich, Veact offers data-driven solutions to some of the world’s leading automotive brands, working with more than 1,000 dealership sites across the EMEA region and partnering with many of the OEMs.

“This acquisition underscores Infomedia’s strategy to broaden its global footprint through expanding its aftersales ecosystem in Europe, creating significant opportunities to accelerate growth through cross-selling and innovation across both existing and new customers. It also allows us and Veact to unlock the full value of data assets, delivering a more connected, end-to-end platform that enables OEMs and dealer networks to better manage the entire vehicle ownership lifecycle,” the company added.

“This partnership marks an important step in our long-term growth strategy, and we are delighted to welcome Veact to the Infomedia family,” said Jens Monsees, CEO of Infomedia. 

“Aftersales is one of the most important value drivers in the automotive industry, and we look forward to collaborating with Philipp and the entire Veact team as we continue to innovate, unlocking revenue potential and providing integrated aftersales automation capabilities for our shared customer base.”

“We are excited to be able to partner with Infomedia and further strengthen our position in the European aftersales market,” said Philipp Posselt, Founder of Veact GmbH. “Together, we are even better positioned to accelerate our product roadmap so we can deliver enhanced value to our customers as we continue to expand and scale across Europe as part of the Infomedia organization.”

Through this partnership, Veact will also benefit from Infomedia’s global OEM relationships and the AI capabilities of Intellegam, a Munich-based AI company partly owned by Infomedia, which can support in accelerating innovation in predictive analytics, automation, and customer engagement.

TIM HORTONS’ CHINA PARTNER TO RAISE US$55 MILLION DEBT; ANNOUNCES NEW CEO AND CHAIRMAN

TH International, the parent company of the exclusive master franchisees of Tim Hortons coffee shops in China, Tuesday said it has entered into a definitive agreement with Tim Hortons Restaurants International, for the issuance of additional senior secured convertible notes in an aggregate principal amount of up to US$55.0 million. This will be consolidated and form a single series with, and rank pari passu with the existing US$89.9 million floating rate senior secured convertible notes due 2029 issued by the Company on December 2, 2025.

The company said it will use part of the proceeds from the issuance of the Additional Notes for further expansion of its store network and funding the working capital and operating expenditure requirements of the Company and its subsidiaries.

“The transaction will be executed in four separate tranches, with the initial tranche of $15.8 million to be issued in the third quarter of 2026 and the final tranche expected in the first quarter of 2027. Each tranche remains subject to customary and other closing conditions, including required regulatory approvals in China and certain business performance milestone conditions,” the company said. 

The company also announced the appointment Mr. Kwok Wah Cheung as its Chief Executive Officer effective June 15, 2026, as part of its ongoing succession planning process.

Concurrently, Mr. Yongchen Lu will step down as CEO and assume the role of Chairman of the Company. In addition, the Company’s current Chairman of the Company, Mr. Peter Yu, will step down from such a position but will remain as a director.

WEE HUR EXPANDS HONG KONG PORTFOLIO WITH ACQUISITION

Singapore Stock Exchange-listed Wee Hur Holdings Tuesday said it has acquired One Bedford Place, a Grade-A commercial building in Tai Kok Tsui, Kowloon, for an undisclosed sum. The Group intends to reposition the building into purpose-built student accommodation, offering approximately 500 beds. Operations are expected to commence in the first half of 2028,subject to the requisite regulatory approvals. 

It is the Group’s second student accommodation investment in Hong Kong, after Starvia by Y Suites on Fortress Hill. The building at 100 Bedford Road is a 26-storey commercial building with two basement levels and has a total gross floor area of approximately 184,000 square feet. The building is about nine minutes’ walk from Prince Edward MTR Station and within 30 minutes’ travel of four major Hong Kong universities, including City University of Hong Kong, Hong Kong Baptist University, Hong Kong Metropolitan University and the Hong Kong Polytechnic University.

“Hong Kong has a structural shortage of student housing. Government policy to grow the city as an international education hub has lifted non-local student numbers, while purpose-built supply has not kept pace; Colliers estimates the shortfall will reach approximately 120,000 beds by 2028,” the company said. 

The Group brings PBSA development and operating experience built over the past decade through its fund management arm (Wee Hur Capital) and Y Suites platform in Australia. The acquisition follows its investment in Starvia by Y Suites on Fortress Hill and adds a wholly owned asset to its Hong Kong portfolio.

“This investment reflects our conviction in the long-term demand for student accommodation in Hong Kong. Subject to the necessary approvals, One Bedford Place has the potential to become a high-quality recurring-income asset and a strategic foothold for further growth in the market.” — Mr Glen Lim, Assistant Vice President, Wee Hur Capital.

Wee Hur Holdings Ltd is a Singapore-listed company with an integrated business across property development, construction, workers’ dormitory, fund management, and alternative investments.  Through its fund management arm, Wee Hur Capital, the Group manages PBSA-focused funds, while its alternative investments division explores opportunities in venture capital, private credit, and private equity.

South Korea-based Park Systems, a global player in atomic force microscopy and nanometrology, Tuesday said it has completed a KRW 100 billion (approximately US$ 72 million) strategic financing through the issuance of perpetual bonds with warrants, with Kiwoom Securities and Dominus Investment Management each subscribing KRW 50 billion. 

The proceeds will support the company’s production capacity expansion and broader strategic initiatives as demand for precision nanometrology continues to grow across the semiconductor and advanced materials industries.

The bonds were issued at par with 0% interest for the first three years, followed by a step-up interest structure. Warrants are exercisable from June 8, 2027 to May 8, 2056 at KRW 267,747 per share, and Park Systems retains a call option to repurchase up to 20% of the bonds at par between June 2027 and June 2029.

“This financing reflects the company’s commitment to scaling its manufacturing infrastructure in alignment with increasing market demand,” said Karen Cho, Senior Executive Vice President at Park Systems. 

“As semiconductor process nodes shrink and advanced packaging architectures grow more complex, the need for sub-nanometer surface metrology has become critical across front-end and back-end semiconductor manufacturing. We believe this investment will strengthen our ability to meet growing customer demand and better serve customers worldwide.”

Park Systems serves global chipmakers and research institutions across more than 30 countries. Building on this momentum, Park Systems reported consolidated revenue of KRW 205.6 billion in 2025. With a diversified customer base that includes major semiconductor manufacturers and a growing installed base in academic and industrial research, the company is well-positioned to capitalize on the continued expansion of nanotechnology applications worldwide.