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Cortec Group-backed Groundworks has acquired BQ Basements & Concrete (BQ). BQ is the seventh acquisition completed by Groundworks since Cortec Fund VII’s investment in January 2020. Terms of the transaction have not been disclosed.
This is Groundworks’ third acquisition in Pennsylvania this year, following Baker’s Waterproofing in Pittsburgh and I’m the Guy Basements (now Baker’s Waterproofing) in central Pennsylvania.
Founded in 1997 and headquartered in Erdenheim, PA, BQ has more than 95 employees and serves the single-family residential market with a suite of services including basement waterproofing, foundation repair, concrete repair and other related services.
Virginia Beach, Virginia-based
Fluitron, an industrial gas compression manufacturer, has acquired Bethlehem Hydrogen (BHI), a manufacturer of integrated hydrogen compression, dispensing, and storage systems.
Ara Partners (Ara), a private equity firm focused on industrial decarbonisation, sponsored Fluitron’s acquisition. Terms of the transaction have not been disclosed.
Founded in 2009, BHI maintains its headquarters in Northampton, PA and has an engineering office in Kochi, India. BHI manufactures its systems in both the United States and India and sells to customers globally. BHI’s President, Tom Joseph, will serve as Vice President of Business Development at Fluitron.
Fluitron’s acquisition of BHI marks the
BGF has added two new high-profile names to its clean growth advisory board, which was set up earlier this year to accelerate investments in companies engaged in carbon reduction and the energy transition.
The advisory board is chaired by Julia King (Baroness Brown of Cambridge).
The new additions are: Juliet Davenport OBE, the founder of Good Energy, and Laura Sandys CBE, a senior policy and business advisor specialising in the energy, food and sustainability sectors.
They will provide guidance on sector trends, market opportunities and government policy to support BGF in its clean growth investment and portfolio activities.
Female Invest, an EdTech platform and community which empowers women by increasing their understanding of personal finance and investing, has closed a GBP3.3 million funding round from a syndicate of prominent investors including Y Combinator and Dr Fiona Pathiraja.
Female Invest was founded in 2019 by Emma Due Bitz (26), Camilla Falkenberg (28), and Anna-Sophie Hartvigsen (27), and inspired by their own experiences of attending personal finance educational events at which women were largely absent, and their subsequent discovery of the unaddressed gender disparity in investments and savings.
All three co-founders were named in the Forbes 30 Under 30
Conquest, an alternative asset management firm invested in long-term sustainable value stemming from European infrastructure and energy transition real assets, and e-Totem, a subsidiary of the manufacturing group Atomelec, which develops and operates recharging solutions for electric vehicles, have signed a EUR50 million partnership to install and operate charging points for electric vehicles in France and Europe.
Following the European Commission’s announcement this summer of a ban on the sale of vehicles powered by internal combustion engines in Europe from 2035, France, and Europe more broadly, will need to significantly expand the number of charging stations available over the next
Cadenza Ventures has raised a USD50 million early stage venture fund, anchored by Van Eck Associates, with participation from institutions that include Solana, Dapper Labs, WorldQuant Ventures, Mirana, TRON, Lennertz, Babel Finance, Social Leverage and individuals affiliated with Coinbase, Kraken Ventures, Angellist and Norwest Venture Partners.
The fund is led by its Co-Founders and Managing Partners, Kumar Dandapani and Max Shapiro. The Cadenza team is composed of technologists and investment professionals that previously assembled a corporate venture portfolio that has generated outsized returns. This portfolio includes Seed and Series A early stage investments in unicorns FalconX, BlockFi, CoinDCX and FTX’s
Align Capital Partners’ (ACP) utility market intelligence, data science and consulting platform E Source has acquired Cairn ERA (Cairn).
Founded in 2015 by Sam Jaffe, Cairn is a global market intelligence firm specialising in battery storage. Cairn expands E Source’s existing subscription and consulting services through a robust contextual understanding of the battery storage environment, competitive landscape, existing market dynamics and technological disruptions to help its clients make data-driven decisions.
“Cairn ERA, a leader in battery technology information, helps early adopters make good, data-driven decisions,” says E Source CEO Ted Schultz. “We’re staying on the forefront of this movement by
Blackstone has appointed Viral Patel as Global Head of Technology Investing for Blackstone Credit.
Patel, who was previously an investment professional in the firm’s Tactical Opportunities Group, will be responsible for identifying investment opportunities across the technology sector and providing entrepreneurs, companies and financial sponsors with the diverse range of flexible solutions offered by Blackstone Credit.
Blackstone Credit is the fastest growing segment of the firm driven by strong demand for private credit products from institutional, insurance and individual investors.
Dwight Scott, Global Head of Blackstone Credit, says: “Viral is a world-class technology investor and will play a key leadership
Healthcare software provider Alfa eCare, backed by Main Capital Partners, has entered the Finnish market for childcare software with the acquisition of Daisy.
Daisy, flagship label of software company WhileOnTheMove, is active in the Finnish municipality ecosystem providing software solutions for early childhood education and daycare.
Daisy is the third acquisition of Alfa eCare following the investment of Main Capital Partners in 2020. The combined group will create a leading Nordic eCare group with strong presence in the municipal care segment, servicing more than 200 municipalities and regions in the Swedish and Finnish market. The combination of Alfa eCare and
Activa Capital, the Paris-based independent private equity firm, is pursuing its development strategy and announces the arrival of Julie Perouzel as Associate.
Perouzel will reinforce the investment team in analyzing new opportunities.
Prior to joining Activa Capital, Perouzel worked as an M&A analyst at Rothschild & Co (1 year), after a previous work experience at BNP Paribas CIB.
Ju Perouzel lie, 24, is a graduate of the Ecole Normale Supérieure Paris-Saclay and of Paris Dauphine University with a Master 225 (corporate finance, corporate engineering).
Christophe Parier et Alexandre Masson, Managing Partners at Activa Capital, says: “We are
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