Deals
Globeleq, Africa’s independent power producer, and the Private Infrastructure Development Group (PIDG), the infrastructure development and finance organisation, have officially broken ground on a 9MWp solar and 7MWh storage power project at Cuamba in northern Mozambique, bringing clean power and jobs to the region.
Globeleq is majority owned by CDC Group, the UK’s development finance institution (DFI) and impact investor.
The USD32 million project marks a major milestone as it will be one of the first IPP grid-scale storage plants in sub-Saharan Africa. The Cuamba Solar project will provide clean energy to 18,000 households and support job creation in
Paul Hastings LLP, a global law firm, is advising Six BidCo Ltd (a wholly-owned indirect subsidiary of investment funds managed by PineBridge Benson Elliot) on its acquisition of Sigma Capital Group plc, a provider of Private Rented Sector housing in the UK.
The boards of Six Bidco Ltd and Sigma Capital Group plc this morning announced they have reached agreement on the terms and conditions of a recommended cash offer by Six Bidco for the entire issued and to be issued share capital of Sigma.
The Acquisition values the entire issued ordinary share capital of Sigma at approximately GBP188.4 million
The pan-European private equity firm Silverfleet Capital, through one of its portfolio companies, Electrum Holding Sàrl, has entered into an exclusivity agreement with Element Solutions Inc, for the purpose of the sale of its stake in Coventya, an international specialty chemicals business headquartered in France, generating a 2.5x gross money multiple. Completion of the transaction is expected to occur by Q3 or Q4 2021.
Founded in 1927, Coventya is a leading developer and manufacturer of specialty chemicals used for surface treatment within the General Metal Finishing plating industry. The firm operates in 60 countries across four continents, employing c700 staff
Fresha, a beauty and wellness software platform, announced today a USD100 million Series C investment led by General Atlantic, a global growth equity firm, with strategic participation from Huda Kattan of HB Investments and the founder of Huda Beauty, as well as Michael Zeisser of FMZ Ventures, former Chairman Investments at Alibaba Group and Jonathan Green of Lugard Road Capital.
Fresha’s existing global investors Partech, Target Global and FJ Labs also participated in the round, bringing the company’s total fundraising to USD132 million to date. Fresha will leverage the new funds to further broaden its global community of partner
Buy and build Manchester-based investment group, Tristone Capital, has acquired Premier Care Management Ltd through its care division, Tristone Healthcare.
Premier Care Management Ltd was founded in 2009 by Steve Bristow as a provider of community and outreach services within the South West as an alternative to residential accommodation and support, for vulnerable adults, young people and young offenders. The Bristol-based organisation provides supported accommodation for young adults across 13 properties with a team of 26.
Tristone Healthcare’s strategy is to acquire high-quality businesses with strong fundamentals, delivering outstanding care and support to vulnerable people who need it
Henkel has closed the sale of two brands, Right Guard and Dry Idea, to Thriving Brands, effective 1 June, 2021. Both brands are mainly focused on the North American and UK markets.
The transaction is another milestone in the company’s ambition to actively shape its portfolio, an important pillar of its Purposeful Growth agenda. Last year, Henkel announced that the company has identified brands and categories with a total sales volume of more than EUR1 billion, predominantly in its consumer businesses, of which around 50 per cent are marked to be divested or discontinued by 2021.
The two brands that
The North East Development Capital Fund (NEDCF), supported by the European Regional Development Fund (ERDF) has invested GBP750,000 in Newcastle-based CRL Foods Ltd (CRL Foods), a specialist food & beverage canning, sterilisation and pasteurisation business.
The funding will allow the business to scale, increasing its production capacity and streamline efficiencies in order to service its growing list of international customers. The investment will also enable CRL Foods to expand its team, creating seven new jobs in Newcastle.
CRL Foods utilises bespoke new retort systems to sterilise and pasteurise food and drink that deliver significant quality benefits over current retort technologies
Funds advised by Apax are to acquire Infogain, a Silicon Valley-based specialist in digital transformation and software services, from ChrysCapital.
The transaction is subject to customary closing conditions and is expected to close in Q3 2021. Terms of the transaction have not disclosed.
Founded in 1990 and headquartered in Los Gatos, California, Infogain provides human-centred digital platform engineering services to its customers. With a team of 5,000 globally, Infogain serves companies, including Fortune 500 customers, in the travel, healthcare, retail/consumer packaged goods (CPG), insurance, telecom, and tech industries, supporting them in their artificial intelligence, experience design and cloud journey,
Rubicon Partners (Rubicon) has acquired Airedale Catering Equipment Group Limited (Airedale), a UK specialist in services to the commercial kitchen and catering market.
Based in Bradford, West Yorkshire, Airedale provides a fully integrated end-to-end solution including design, supply, manufacture and installation of professional kitchens and maintenance services.
Airedale was established by Peter Bywell and John Rhodes in 1985. In 2013, in the context of a management succession, Rob Bywell led a management buyout with the support of Rockpool Investments (Rockpool). The business has expanded rapidly over the last seven years, including through the acquisition of two service businesses which today
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Healthcare drivers that private equity should be aware of
Healthcare drivers that private equity should be aware of