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KKR has completed the previously announced sale of Minnesota Rubber and Plastics (MRP), a provider of materials science-based elastomer and thermoplastic solutions, for a reported $1 billion in cash to Trelleborg Group (Trelleborg), a specialist in engineered polymer solutions.
All of MRP’s more than 1,450 employees across six countries and four US states, including hourly manufacturing production, technical and administrative employees, are receiving substantial cash payouts in connection with the closing as a result of the employee ownership plan implemented by KKR in 2018.
Payments vary based on tenure and employment status, with employees who joined MRP in late 2018
UBS Asset Management’s Real Estate & Private Markets (REPM) has acquired sewikom, a fibre-to-the-home (FTTH) operator in North Rhine-Westphalia.
The acquisition is a continuation of UBS Asset Management’s strategy of investing in German rural FTTH operators, following last year’s acquisition of Lünecom, which enables the business to deepen its construction expertise whilst also continuing its own successful fibrw network roll-out under new management.
UBS Asset Management will invest further capital in sewikom to allow it to continue the expansion of its fibre network and reach approximately 250,000 homes across the Hoxter and Lippe districts in Germany. UBS is acquiring
Copia Power (Copia) has completed a strategic merger with Birch Infrastructure’s (Birch) renewable energy business, building on a multi-year partnership between the two firms.
Copia is a renewable development platform formed in 2021 by global investment firm Carlyle (NASDAQ: CG) to develop and operate large-scale renewable energy projects and seek to play a significant role in the US energy transition. Copia believes that the integration strengthens the platform and reconnects a leadership team that has developed and constructed over 3.5 GW of renewable assets together.
As part of the integration, Ray Henger, former Chief Development Officer of sPower, a renewable
Jasper Ridge Partners, a firm providing customised investment solutions for families, foundations and global institutions, has appointed Greg Ruiz as a partner in its private equity practice.
Together with Rick Hayes, Jenny Chen and Jamie Scarbrough, Ruiz will help lead the team’s deep bench of investment talent and contribute to the ongoing expansion of its co-investment and direct private equity capabilities.
Ruiz comes to Jasper Ridge Partners from the California Public Employees’ Retirement System (CalPERS), the USA’s largest pension fund, where he led the Private Equity program focused on private equity investments across a broad range of strategies and geographies.
Grant Avenue Capital (Grant Avenue), a lower middle market healthcare-focused private equity firm, has appointed Brian Berkin as a managing director, effective immediately. Berkin will be responsible for sourcing and executing investments across Grant Avenue’s subsectors of focus, including Services, Devices, Pharma & Pharma Services, and HCIT.
A seasoned private equity professional with nearly 20 years of experience transacting across middle market healthcare, Berkin brings significant origination, due diligence, capital raising, and operations experience to Grant Avenue. Throughout the course of his career, he has worked hand-in-glove with management teams to successfully grow their businesses. At Grant Avenue, Berkin will help
Kedge Capital, the company which makes private equity and hedge fund investments on behalf of Ernesto Bertarelli, one of Switzerland’s richest men, and his family, is looking to attract other ultra-wealthy investors, according to a report by Bloomberg.
Drawbridge, a provider of cybersecurity software and solutions for the private equity, hedge fund, and venture capital sectors, has appointed William (Bill) Haney as its chief executive officer (CEO) and appointed him to its board of directors.
Los Angeles-based K1 Investment Management is to acquire Australian software provider ELMO Software in an all-cash deal worth $319 million, according to a report by Reuters.
65 Equity Partners, an investment firm wholly-owned by Temasek, has invested $106 million (SGD150m) in Singapore-based immersive entertainment firm Cityneon Holdings, according to a report by Deal Street Asia.
Cityneon has previously raised SGD235 million round in a funding round in April 2021, which gave the company a valuation of over SGD1 billion.
Existing investors in the company include CITIC Capital, Pavilion Capital, EDBI, Qatar’s Doha Venture Capital and SeaTown Holdings International.
Cityneon is intending house the additional funding to expand into new markets, acquire new IPs, build up technological capabilities, and shore up its balance sheet.
The company was
KKR is to acquire Ness Digital Engineering (Ness), a global provider of full-lifecycle end-to-end digital transformation services that specialises in building digital software products and platforms, from The Rohatyn Group (TRG).
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