Archives 2026

Business Wire India

Inspirit Capital, a specialist investor in corporate carve-outs, is pleased to announce its plans to acquire KLG Kaplan Languages Group (“KLG”), a leading global language education platform, from Kaplan. All conditions for the sale have been met, and completion is due to take place on 1 May.

 

KLG comprises Kaplan International Languages, Alpadia Language Schools, Azurlingua, and ESL Education. Since 2006, KLG has provided high-quality language education, supporting students in achieving their language goals through academic excellence, cultural immersion, and life-changing experiences.

 

 

Inspirit Capital will support KLG in delivering on its ambitious growth plans, whilst continuing its fundamental mission to transform lives through language education. This next phase of ownership will also see the development of a refreshed standalone brand identity for KLG, with further announcements to follow on this in due course.

 

 

Paul Youens, Investment Director, Inspirit Capital:

 

 

“KLG has built a strong set of trusted brands over more than 20 years, helping students transform their lives through language and cultural immersion. We are focused on giving the business the support and independence it needs to build on that foundation. Students, families and agents can expect continuity and consistency – the same high-quality schools, experienced teams and strong standards of education, safety and student care – alongside the continued delivery of established programmes and support services.”

 

 

David Jones, CEO, Kaplan International:

 

 

“For decades our schools have been welcoming students from all corners of the world. Over that time, they have established a reputation for first-class academic standards and excellence in pastoral care. Our highly experienced management team will undoubtedly continue this tradition, and I wish them every success for the future.”

 

 

About Kaplan Languages Group

 

 

Since 2006, KLG has provided the highest quality language education and cultural immersion experiences. Kaplan International Languages, Alpadia Language Schools, and Azurlingua operate more than 20 language schools in eight countries, delivering professional, academic and language travel programmes in English, French and German. ESL Education, the language travel agency, maintains a portfolio of 200+ partner destinations worldwide for learning 17 languages. KLG’s students range in age from juniors through to mature 50+ and come from 140 countries. For more information, visit KLG here.

 

 

About Kaplan

 

 

Kaplan, Inc. is a global education company that helps individuals and institutions advance their goals in an ever-changing world. The broad portfolio of solutions helps students and professionals further their education and careers, universities and educational institutions attract and support students, and businesses maximize employee recruitment, retention, and development. Stanley Kaplan founded the company in 1938 with a mission to expand educational opportunities for students of all backgrounds. Today, Kaplan has thousands of employees working in 40 countries/regions, continuing Stanley’s mission as they serve about 1.2 million students and professionals, 16,000 corporate clients, and 2,700 schools, school districts, colleges, and universities worldwide. Kaplan is a subsidiary of the Graham Holdings Company (NYSE: GHC). Learn more at kaplan.com.

 

 

About Inspirit Capital

 

 

Inspirit Capital is a London-based investment firm specialising in corporate carve-outs, acquiring businesses that are no longer core to their parent company’s strategic objectives and would benefit from a different ownership structure.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420360576/en/

 

Business Wire India

As demand for second homes and parallel living continues to rise among High-Net-Worth Individuals (HNIs) and Non-Resident Indians (NRIs), Auramah Valley, developed by Imperial Realty and Developments under the leadership of Imperial Holding Group Chairman Mr. Manavinder Singh, is emerging as a defining project in India’s luxury real estate landscape.

Auramah Valley is owned and led by Mr. Manavinder Singh, who is actively involved in the project from the ground level, from construction planning and quality control to design detailing and client interaction ensuring a structured, high-quality, and reliable development experience.

Addressing a Growing Need for Parallel Living

Evolving lifestyles and increasing urban pressures have significantly influenced how people view real estate today. Beyond a primary residence, there is a growing demand for a parallel home; a space that offers peace, privacy, and a meaningful escape from city life.

 Increasing congestion, pollution, constant noise, limited personal space, long working hours, and the mental fatigue of fast-paced urban environments are driving individuals to seek a calmer, healthier, and more balanced way of living. This shift has positioned second homes not just as investments, but as lifestyle decisions.

At the same time, there is a noticeable trend of investors choosing India over overseas markets. Regulatory complexities abroad, distance from family, limited usability, and a lack of emotional connection are encouraging buyers to invest closer to home. India offers familiarity, cultural belonging, and long-term growth potential, making it a preferred destination for luxury second home investments.

What is Auramah Valley

Located in Himachal Pradesh and surrounded by over 100 acres of pine forests, Auramah Valley has been designed as a private residential community that blends natural surroundings with modern luxury.

The project offers a range of residences, including 2 BHK, 3 BHK, 4 BHK, and 5 BHK homes, catering to diverse lifestyle needs while maintaining a consistent standard of luxury.

Auramah Valley offers freehold ownership and is a RERA-approved project, ensuring transparency, legal clarity, and long-term confidence for buyers.

How Auramah Valley is Redefining Mountain Living

Auramah Valley is built around five key parameters of luxury living:

• Privacy: A secure and exclusive residential environment
• Quality: Strong focus on construction standards and long-term durability
• Environment: Homes surrounded by pristine pine forests and clean air
• Service: 24/7/365 maintenance, housekeeping, security, and lifestyle support
• Community: Like-minded residents with shared values and global exposure

The development is designed as a fully managed ecosystem where residents do not have to worry about property upkeep, even in their absence. Homes are maintained, serviced, and ready for use at all times.

In addition, Auramah Valley integrates hospitality and lifestyle experiences, including a boutique hotel (The Manor, Naldehra) and club, offering wellness, dining, and recreational facilities, creating a complete living environment rather than just a real estate offering.

Leadership Perspective

 “Auramah Valley is not just about building homes,” said Mr. Manavinder Singh, Chairman of Imperial Holding Group. “It is about creating a lifestyle where people can step away from the pressures of city life and experience a more balanced, refined way of living. Every aspect of the project is designed to deliver long-term value, comfort, and peace of mind.”

A New Benchmark in Himalayan Real Estate

For buyers exploring second homes or a parallel home in the mountains, Auramah Valley represents more than just ownership. It reflects leadership, vision, and a long-term commitment to quality.

Backed by a group positioned among the leading developers in the Himalayas, Auramah Valley reflects a benchmark-setting approach to mountain living in India.

To learn more about Auramah Valley or to schedule a site visit, please visit:

https://auramahvalley.com

Business Wire India

Loylty Rewardz, a leading provider of customer engagement and loyalty solutions, today announced it has successfully achieved the Payment Card Industry Data Security Standard (PCI DSS) v4.0.1 certification following a highly rigorous auditing process conducted by QRC Assurance and Solutions. Loylty Rewardz is the first loyalty management company in India to be officially PCI DSS certified and this milestone reinforces its commitment to safeguarding payment data with the highest global standards.

In a fast-evolving payments landscape, protecting card data is not optional. The PCI DSS, issued by the PCI Security Standards Council, provides a strict baseline of technical and operational requirements. The comprehensive engagement required Loylty Rewardz to undergo deep-level audits of its technical and operational frameworks. To achieve this milestone, the company had to successfully demonstrate a resilient payment security environment through advanced access management, continuous monitoring, meticulous logging, and highly secure system configurations.

”Security isn’t just a milestone for us; it’s a standard we want to operate by,” said Amresh Acharya, Managing Director & CEO of Loylty Rewardz. “For an organization that processes data daily, undergoing this rigorous certification process isn’t just about compliance. It’s about building trust among our stakeholders with every transaction, every reward, and every experience. With evolving cyber threats, our focus remains constant: stronger controls, sharper monitoring, and systems designed to stay ahead.”

Issued by the PCI Security Standards Council, the PCI DSS mandates a strict baseline of protective measures for any entity that processes, stores, or transmits payment card data. The exhaustive and robust audit process to achieve this certification confirms that Loylty Rewardz has moved beyond reactive security measures to a deeply preventive control framework around all of its payment operations.

The successful completion of this rigorous audit was the result of focused execution and clear ownership by the Loylty Rewardz Information Security team, working in close collaboration with Qualified Security Assessors (QSA) from QRC Assurance and Solutions (QRC).

“In any payment ecosystem, protecting cardholder data is a fundamental responsibility, not a choice,” said Vamsi Krishna M., Founder and CEO of QRC Assurance and Solutions. “Effective payment security goes beyond implementing controls—it requires demonstrable evidence that controls are properly designed, consistently operating, and continuously monitored. This certification reflects Loylty Rewardz’s disciplined approach and commitment to safeguarding sensitive payment information.”

By successfully navigating this stringent certification process, Loylty Rewardz assures its banking partners, retail brands, and millions of end-users that their data is processed within a heavily fortified, continuously monitored, and globally certified environment.

Business Wire India

Bringg, the last-mile performance leader, today announced Chris Conway’s appointment as Senior Vice President and General Manager, EMEA. Conway will lead Bringg’s commercial strategy, customer relationships, and go-to-market operations across the region.

 

Conway brings more than 20 years of experience in eCommerce, digital commerce, and operational transformation at three of the UK’s largest grocery retailers. Most recently, he served as Managing Director of Quick Commerce and Food Operating Board Member at Co-op, where he built and scaled a £500 million-plus q-commerce operation delivering from nearly 2,000 stores. He also founded Peckish, a rapid delivery app that gave independent retailers access to q-commerce technology. He also led Asda’s online grocery business to more than £1 billion in revenue and 20% market share, and ran the online commercial team at Morrisons. Conway holds an AI certificate from Oxford Saïd Business School.

 

 

“Chris built one of the UK’s most successful delivery operations as a Bringg customer and decided to come over and build it for others,” said Guy Bloch, CEO of Bringg. “EMEA retailers are making increasingly complex delivery decisions, and Bringg is building AI capabilities that help them get those decisions right. Chris knows what that looks like from the operator’s seat. That firsthand experience is exactly what the market needs to scale their last-mile capabilities.”

 

 

In his new role, Conway will drive executive engagement with European retailers and logistics leaders, position Bringg as the definitive last-mile performance solution, and convert relationships into structured pilot engagements.

 

 

“On the retail side, I spent years trying to make last-mile delivery a competitive advantage rather than a cost,” said Conway. “I know what it takes because I lived it. I’ve also seen how Bringg does it—starting from deep understanding of customers’ problems and using automation and AI to improve last-mile performance. That’s the conversation I want to have with the market.”

 

 

About Bringg

 

 

Global retailers and logistics providers reduce costs and deliver differentiated customer experiences with Bringg Last-Mile Solutions. The combination of Bringg’s modular technology platform, integrated fleet network, and services suite drives last-mile performance to unlock flexibility at scale. www.bringg.com

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420870902/en/

 

Business Wire India

 

• Net sales increased to $55.1 million for the quarter and $210.9 million for the full year, compared to $45.0 million and $158.4 million in the prior year periods, respectively

• Income before income taxes increased to $6.4 million for the quarter and $27.5 million for the full year, compared to $5.3 million and $18.5 million in the prior year periods, respectively

• GAAP diluted earnings per share increased to $0.60 for the quarter and $2.09 for the full year, compared to $0.22 and $1.12 in the prior year periods, respectively

• Backlog stood at $121.6 million, reflecting strong conversion to revenue during the quarter

 

Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) today announced financial results for the fourth quarter and 2025 fiscal year ended January 31, 2026.

 

“For the three months ended January 31, 2026, net sales were $55.1 million, an increase of $10.1 million, or 22.4%, compared to $45.0 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $17.3 million, up $2.1 million from $15.2 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased slightly to $10.3 million from $9.7 million, primarily due to higher payroll costs, partially offset by lower bonus costs. The Company’s effective tax rate (“ETR”) was 12.3%, compared to 32.1% in the prior-year quarter, reflecting the impact of product mix across various tax jurisdictions. As a result, net income attributable to common stock was $4.9 million, an increase of $3.1 million, or 172.2%, compared to $1.8 million in the fourth quarter of fiscal 2024,” noted President and CEO Saleh Sagr.

 

 

“For the year ended January 31, 2026, net sales were $210.9 million, an increase of $52.5 million, or 33.1%, compared to $158.4 million in the prior year period. The increase was primarily attributable to higher sales volumes in both the Middle East and North America. Gross profit was $69.5 million, compared to $53.2 million in the prior year period, reflecting increased activity levels. Selling, general and administrative expenses were $40.1 million, up from $32.9 million, due to higher payroll and professional fees, including approximately $1.0 million related to Sarbanes-Oxley Section 404 compliance in connection with our transition from a non-accelerated filer to an accelerated filer. This also includes a one-time compensation charge of approximately $2.0 million related to the departure of the previous CEO. The Company’s effective tax rate was 24.9%, compared to 29.1% in the prior-year period. The change in the Company’s effective tax rate reflects product mix across various tax jurisdictions and the Company’s overall reduction in its effective tax rate for the year was partially offset by the impact of a tax limitation related to the one-time charge associated with the prior CEO’s departure. Net income attributable to common stock was $17.0 million, an increase of $8.0 million, or 88.9%, compared to $9.0 million in fiscal 2024,” Mr. Sagr commented.

 

 

President and CEO Saleh Sagr added: “Our backlog stood at $121.6 million as of January 31, 2026. This reflects strong operational execution as we successfully accelerated the conversion of existing sales orders into realized revenue. Our backlog remains at historically strong levels. We continue to see meaningful multi-regional expansion, particularly across North America and the Middle East, reinforcing sustained global demand for our solutions.”

 

 

“Our fiscal 2025 results represent a landmark achievement for the Company. Total revenues of $210.9 million and net income attributable to common stockholders of $17.0 million mark our highest level of earnings in the Company’s modern operating history, driven not only by strong top-line growth but also by improved margins. This record performance was driven by broad-based strength across our global footprint, with significant growth contributions from the Middle East and North America. Our ability to scale across these diverse markets while maintaining disciplined margin performance has enabled us to convert top-line momentum into meaningful bottom-line value for our shareholders.”

 

 

“To sustain this trajectory, we have entered into a long-term lease for a new production facility in Ohio (AI data centers). This strategically located hub will serve as a primary logistics center for the Northeast and New England corridors, enabling us to localize production for our district heating and cooling offerings and capture additional regional market share. The region’s favorable and flexible labor environment further enhances our operational agility.”

 

 

“Supporting our long-term growth strategy, we also finalized a new credit facility with J.P. Morgan Chase. This agreement represents a watershed moment for the Company. We have standardized our borrowing platform globally at significantly improved terms. This transition optimizes our cost of capital while providing the liquidity necessary to support the next phase of our global expansion,” Mr. Sagr continued.

 

 

“With record earnings as our foundation and a modernized capital structure as our fuel, we enter the remainder of 2026 with strong confidence in our ability to scale our global operations and drive meaningful shareholder returns,” Mr. Sagr concluded.

 

 

2025 Results

 

 

Net sales were $210.9 million for the fiscal year ended January 31, 2026, an increase of $52.5 million, or 33.1%, from $158.4 million in the prior year. The growth was primarily driven by higher sales volumes across our key markets in the Middle East, Canada, and the United States

 

 

Gross profit was $69.5 million, or 33% of net sales, compared to $53.2 million, or 34% of net sales, in the prior year. The $16.3 million was driven by higher sales volumes and consistent gross margins globally.

 

 

General and administrative expenses were $35.3 million, compared to $28.0 million in the prior year. The increase of $7.3 million was primarily related to higher compensation costs and professional fees, including approximately $1.0 million relating to Sarbanes-Oxley 404 compliance in connection with our transition from a non-accelerated filer to an accelerated filer. This also includes a one-time compensation charge of approximately $2.0 million related to the departure of the previous CEO.

 

 

Selling expenses were $4.7 million, compared to $4.9 million in the years ended January 31, 2026 and 2025, respectively. The decrease of $0.2 million was primarily driven by lower payroll expenses during the year.

 

 

Interest expense, net was $1.8 million and $1.9 million in the years ended January 31, 2026 and 2025, respectively. The decrease of $0.1 million was the result of an overall reduction in interest rates during the year.

 

 

The Company’s worldwide effective tax rates (“ETR”) were 24.9% and 29.1% in the years ended January 31, 2026 and 2025, respectively. The change in ETR was largely due to changes in the mix of income and loss in various tax jurisdictions and the domestic Global Intangible Low-Taxed Income (“GILTI”) inclusion.

 

 

Net income attributable to common stock was $17.0 million, or $ 2.09 per diluted share, for the fiscal year ended January 31, 2026, compared to $9.0 million, or $ 1.12 per diluted share, in the prior year. The 89% increase was driven by the significant growth in sales volumes and operational efficiencies discussed above, partially offset by the one-time charges previously noted and amounts attributable to non-controlling interest.

 

 

Perma-Pipe International Holdings, Inc.

 

 

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in seven countries.

 

 

Forward-Looking Statements

 

 

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company’s products; (ii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company’s ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Company’s ability to interpret changes in tax regulations and legislation; (viii) the Company’s ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s “over-time” revenue recognition; (x) the Company’s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xii) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xiv) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Company’s backlog; (xvi) risks and uncertainties specific to the Company’s international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)

 

 

The Company’s fiscal year ends on January 31. Years, results, and balances described as 2025, 2024, and 2023 are for the fiscal year ending January 31, 2026, 2025, and 2024, respectively.

 

 

Additional information regarding the Company’s financial results for the fiscal year ended January 31, 2026, including management’s discussion and analysis of the Company’s financial condition and results of operations, is contained in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, which will be filed with the Securities and Exchange Commission on or about the date hereof and will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company’s website.

 

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
		Three Months Ended January 31,								Year Ended January 31,
		2026				2025				2026				2025
Net sales		$	55,129			$	44,987			$	210,925			$	158,384
Gross profit			17,337				15,171				69,488				53,248
Total operating expenses			10,367				9,732				40,039				32,947
Income from operations			6,970				5,439				29,449				20,301
Interest expense, net			505				451				1,822				1,940
Other (expense) income, net			(58	)			262				(134	)			107
Income before income taxes			6,407				5,250				27,493				18,468
Income tax expense			787				1,685				6,844				5,377
Net income		$	5,620			$	3,565			$	20,649			$	13,091
Less: Net income attributable to non-controlling interest			702				1,805				3,614				4,108
Net income attributable to common stock		$	4,918			$	1,760			$	17,035			$	8,983
Weighted average common shares outstanding
Basic			8,103				7,983				8,047				7,956
Diluted			8,206				8,073				8,148				8,015
Earnings per share
Basic		$	0.61			$	0.22			$	2.12			$	1.13
Diluted		$	0.60			$	0.22			$	2.09			$	1.12
Note: Earnings per share calculations could be impacted by rounding.

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
		January 31,
		2026				2025
ASSETS
Current assets		$	146,734			$	108,802
Long-term assets			70,752				56,439
Total assets		$	217,486			$	165,241
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities		$	79,789			$	54,063
Long-term liabilities			31,396				28,073
Total liabilities			111,185				82,136
Non-controlling interests			15,663				10,967
Stockholders’ equity			90,638				72,138
Total liabilities and stockholders’ equity		$	217,486			$	165,241

 

PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURE
ADJUSTED INCOME BEFORE TAX
(In thousands)
(Unaudited)

 

The following information contains a reconciliation of the non-GAAP financial measure of adjusted income before income tax and income before tax prepared in accordance with generally accepted accounting principles (“GAAP”) for the three and twelve months ended January 31, 2026, and 2025, respectively. This reconciliation is intended to provide investors with useful information in evaluating the Company’s performance. Adjusted income before tax includes certain adjustments as identified below. This measure is not considered an alternative to income before tax or other financial measures of performance that are prepared in accordance with GAAP. The Company believes that the exclusion of certain items from income before tax allows investors to more effectively evaluate the Company’s operating performance and identify trends that might not be apparent due to the variability and infrequent nature of these items. In addition, the Company believes this measure provides meaningful information to investors when comparing results between periods and performance with respect to the Company’s peers.

 

 

Adjustments were made for certain items as follows: (i) a one-time charge associated with the acceleration of executive compensation; (ii) a one-time litigation settlement charge; and (iii) other non-recurring items. These non-GAAP measures are provided to enhance the user’s overall understanding of the company’s current financial performance and may not be comparable to similarly titled measures used by other companies.

 

 

The following table provides a reconciliation of the GAAP and non-GAAP financial measures:

 

 

		For the three months ended								For the twelve months ended
		January 31,   2026				January 31,   2025				January 31,   2026				January 31,   2025
Income before income tax (GAAP as reported)		$	6,407			$	5,250			$	27,493			$	18,468
Acceleration of certain executive compensation			–				–				2,018				–
Litigation settlement			–				–				–				35
Other one-time charges			–				–				88				517
Adjusted income before tax		$	6,407			$	5,250			$	29,599			$	19,020

 

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416587944/en/