OpenGate Capital, a global private equity firm, is in exclusive negotiations with the Spanish firm MCH and Fernando Busto, founder and CEO of Extol, to acquire Extol.  The acquisition is part of a wider plan to create a European group focused on the aluminium extrusion market including another company, Aluminium France Extrusion. Together, the business will be named Aluminium Solutions Group (ASG). Financial term of the deal, which is expected to close later this year, have not been disclosed. ASG will consist of four plants, three in France (Nantes, Saint-Florentin and Ham) and one in Spain (Toledo) and combined, the

Apart from being the top European market, the UK is also among the top five markets for  global venture capital (VC) funding activity, found GlobalData. According to the data and analytics company, a total of 1,083 VC funding deals were announced in the UK during January-July 2022 while the disclosed funding value of these deals stood at $18 billion. An analysis of GlobalData’s Financial Deals Database reveals that VC funding activity in 2022 so far has showcased a fluctuating trend in the UK with July reversing the growth trend witnessed during the previous month. The UK witnessed a 32.7% decrease

Dryad, a provider of solar-powered environmental sensor networks for ultra-early wildfire detection and forest monitoring, has closed a €10.5 million Series A funding round, led by eCAPITAL. Additional investors include Toba Capital, Semtech and Marc Benioff’s TIME Ventures.  The funding will enable the company to scale its team, accelerate its go-to-market strategy, and deliver on its mission to fight climate change and protect forests around the world.        Dryad has spent more than two years developing its end-to-end Silvanet ultra-early wildfire detection and forest monitoring system, which incorporates low-cost sensors, solar-powered LoRa® based mesh networking infrastructure and a cloud

DrinkWell, a low-calorie alcohol retailer, has secured a £1 million investment from a private investor to fuel its expansion plans. The funding will enable the Manchester-based eCommerce retailer to scale, growing its team, while investing in product development including the launch of two new brands, Lean Brew IPA and Traces Wine. In addition, DrinkWell has plans to add several new features to its retail business, expand into the European market and invest in marketing to further build its brand, plus drive recruitment, creating jobs across various areas of the business.   Over the last decade DrinkWell founder, Tom Bell, has

Pipeline Technique (PTL), a specialist in the onshore and offshore infrastructure welding, coating, and technological engineering sector, backed by private equity firm Bluewater, has acquired a trio of energy infrastructure businesses from Stanley Black & Decker.  This marks the second acquisition of 2022 for PTL – in April, the company acquired Global Project Services.   PTL, which is backed by specialist energy private equity firm Bluewater, has acquired a group of three companies from Stanley Black & Decker: CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).   The acquisition creates a global specialist in

Alto Capital IV, a private equity fund managed by Alto Partners, has sold its portfolio company Tricobiotos to Alfa Parf Group (Alfaparf), an Italian specialist in the professional hair care market. This is the third exit for Alto Capital IV after OFI (nutraceuticals, sold to Farmaceutici Procemsa in December 2020) and CEI Group (heavy trucks spare parts, sold to White Bridge Investments in June 2022). The average gross IRR for the first three exits is over 40% with a Fund DPI ratio of 73%. In July 2022 the fund also signed binding agreements to sell portfolio company Bia (cous cous

Pharos Capital Group (Pharos), a private equity firm based in Dallas and Nashville, has sold its stake in portfolio company TechLab, a developer and manufacturer of rapid, non-invasive diagnostic tests for infectious disease, intestinal inflammation, and parasitology, to SSI Diagnostica, a portfolio company of the private investment firm Adelis Equity (Adelis).  Terms of the transaction have not been disclosed.   SSI Diagnostica is a developer and manufacturer of diagnostics products based in Copenhagen, Denmark. SSI Diagnostica’s global distribution network and production capability will complement TechLab’s US and global operations to grow the scale of the combined company’s diagnostics business. TechLab

Real assets investment specialist PATRIZIA has completed the merger of SAREN Energy with Kvitebjørn Varme AS (KVAS), a district heating operator in Tromsø, northern Norway.  SAREN Energy, which is owned by PATRIZIA investors, including PATRIZIA European Infrastructure Fund II (EIF II), is now one of the largest district heating operators in Norway delivering up to 525 GWh of energy per year.   Following the merger, the combined entity comprises three EfW facilities and a district heating network and will deliver a diverse revenue stream from selling heat, steam and electricity in both southern and northern Norway. The assets are strategically

Thrive Foods (Thrive), a portfolio company of Entrepreneurial Equity Partners (e2p), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, has acquired Freeze-Dry Foods (FDF) from Cumming Capital. Financial terms of the transaction have not been disclosed. Founded in 1968, FDF is a contract manufacturer of freeze-dried products, including pet treats, proteins, and food ingredients.    Thrive Foods is a manufacturer of freeze-dried products including fruits & vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Thrive currently has facilities in Modesto, California and American Fork, Utah, and serves as a technical expert and flexible