INVL Baltic Sea Growth Fund, a private equity investment fund in the Baltic region, has completed the acquisition of a controlling stake (52.81 per cent) in Eco Baltia, an environmental management group for plastic recycling and waste collection in the Baltics. The deal sees the European Bank for Reconstruction and Development (EBRD) retain their 30.51 per cent stake in Eco Baltia and Maris Simanovičs, Chairman of the Management board of SIA Eco Baltia grupa, retain a 16.68 per cent stake (via Penvi Investment Ltd). Both parties have subsequently entered into a shareholders’ agreement with the Fund.  Vytautas Plunksnis, Partner at the

Funds advised by KLAR Partners (KLAR) have completed the acquisition of Empower Group’s subsidiary Empower IM Oy, which combines the Group’s software and BPO activities for smart grids, energy market services, smart energy metering and utilities (Energy Intelligence Division or EID). The completion of the transaction took place on 30 June 2020. The Energy Intelligence business carried out by Empower IM Oy provides mission-critical software and BPO services for smart grids, energy market functions, smart energy metering and utilities. The company combines a fast-growing Customer Information System SaaS solution and other business applications, which are vital components of the smart meter-to-cash

Cross Rental Group, a portfolio company of private equity firm Lonsdale Capital Partners (Lonsdale), has completed the acquisition of Acclimatise Limited (Acclimatise). The acquisition further cements Cross’ position as one of the largest specialist chiller, boiler, heating & air conditioning rental companies in the UK and Irish market and is a signal of Lonsdale’s commitment to continue to invest capital despite the current environment.   Lonsdale has now completed fourteen bolt-on acquisitions for its portfolio companies and eight platform investments, since closing its first institutional fund of £110 million in April 2016.   Cross, which Lonsdale acquired in December 2018, is

The Rise Fund, a global impact investing fund managed by alternative asset firm TPG, has acquired approximately 1 gigawatt (GW) of solar PV projects from Changzhou, China-based Trina Solar. The solar PV projects included in the transaction are currently operational, under construction or in late stage development nearing ready-to-build status across Spain, Chile, Colombia, and Mexico, and will serve as the first solar PV projects within the portfolio of newly created, Madrid-based Matrix Renewables. Terms of the transaction have not been disclosed.   TPG and The Rise Fund are assembling an industry-leading management team for Matrix Renewables and will leverage the

Kirkland & Ellis has advised Starwood Capital Group on the acquisition of a 29.42 per cent stake in London-listed RDI Real Estate Investment Trust (REIT) from South African investor Redefine. The shares will be bought from Redefine for an aggregate sale consideration of GBP106.3 million, representing GBP0.95 per share. The Kirkland team was led by corporate partners Mark Thompson and Matthew Elliott; real estate finance partner Jonathan Birks; tax partner Jonathan Kandel and antitrust and competition partner Mark Gardner.