Greencoat UK Wind has entered into an agreement to acquire the Douglas West wind farm from Blue Energy. Douglas West is located 7 miles south west of Lanark, Scotland and will have a total capacity of 45MW, and is subsidy free. Construction is expected to start in 2019, with the commencement of commercial operations targeted for July 2021.
Acquisition and construction costs will total approximately £45m ($57m), and is expected to be funded through reinvestment of UKW's excess cash flow.
"We are pleased to have reached an agreement to acquire Douglas West. Once operational, Douglas West will sit alongside our existing 32 ROC investments and, with Tom nan Clach also incorporated, will increase our generating capacity to 910MW as part of our balanced portfolio." Tim Ingram, UKW Chairman.
Providence Equity Partners invested in CloserStill Media, the world’s leading independent organizers of trade shows and events. Providence agreed to acquire a majority stake from Inflexion Private Equity, NVM Private Equity, and the management. Financial terms were undisclosed.
“CloserStill is an exceptional business led by a strong management team with a proven track record of developing and acquiring successful events around the world. With a compelling global portfolio and diverse customer base across the technology, learning and healthcare sectors, CloserStill is well-positioned to accelerate the momentum the business has generated to date. We are excited to partner with such a fantastic team and look forward to working together.” Andrew Tisdale, Providence Managing Director.
LionTree and Weil Gotshal and Manges advised Providence Equity. DC Advisory and Addleshaw Goddard advised CloserStill.
Cinven acquired One.com from Accel - KKR.
International private equity firm, Cinven, has agreed to acquire One.com, a leading European supplier of web hosting services, from Accel - KKR. Financial terms were undisclosed.
“We are very excited to invest in One.com alongside Jacob. It is a high-quality business with an attractive brand and scalable technology platform, operating in a market with structural growth drivers. This is a subsector we know well through Cinven’s successful investment in HEG in Fund 5, continuing to invest in both the organic growth story and targeted acquisitions.” Thomas Railhac, Cinven Partner.
Omnes and BPI acquired a minority stake in UNITe.
Omnes and BPI France have jointly acquired a minority stake in UNITe, an independent renewable energy producer. Financial terms were undisclosed.
"UNITe is one of the pioneers of renewable energy in France with more than 30 years of expertise in mid-size hydropower. We have been following this company for many years. We share the firm’s conviction that energy produced in the heart of France’s territories, as close as possible to the end consumer, is a model for the future, creating wealth and jobs." Serge Savasta, Omnes Managing Partner.
CMS Francis Lefebvre advised UNITe. Accuracy, Allen & Overy, Arsene Taxand, Hydronnov and Natural Power advised Omnes Capital.
Mirabaud Asset Management has raised €150m for its first private equity fund.
Launched a year ago, Mirabaud Asset Management’s first private equity vehicle is now fully subscribed by both international institutional and family office clients.
Lionel Aeschlimann, Mirabaud Asset Management Chief Executive Officer: “We are delighted and proud to have delivered another solution for our clients with this unique private equity vehicle. The arrival of Mr. Dutreil as Head of our Private Equity activity franchise strengthens Mirabaud’s ties with today’s entrepreneurial community and widens the spectrum of opportunities that we can provide our investment partners with.”
Alantra to acquire a stake in Access Capital Partners from OP Financial Group and Dominique Peninon for €19m.
Through the acquisition of stakes in Access’ holding an operational company, Alantra will own a 49% interest in the business and become over time the company’s only strategic shareholder. The current executive partners will maintain the control of Access.
The first step of the transaction entails the acquisition of a 24.5% interest for a cash consideration of €19m ($21.7m). In 2022 Alantra will have a call option, and OP Financial Group a put option, for OP’s remaining stake.
“We are extremely satisfied to partner with Access, a firm that we have known for more than 15 years and which shares our values of entrepreneurship, alignment of interests with clients and performance. Through the partnership with Access we will be able to offer our clients new asset classes. Therefore, I am certain that together with Access’ leadership team we will be able to lever significant synergies for both firms in terms of fundraising and products in the years to come.” Santiago Eguidazu, Alantra Executive Chairman.
MINEXIA launched an online mining investment platform NR Private Market.
NR Private Market is designed to help mining and exploration companies simplify and streamline their capital raising process and provide access to mining-focused capital.
The platform has also been designed to help private, sophisticated and high net-worth investors gain access to a range of mining and exploration investment opportunities that might otherwise only be available to institutions.
“We provide investors with an easy-to-use, customized online dashboard to manage and monitor their investments, follow companies, request access to offering documents and invest online via a secure escrow facility. This level of investor control provides for a more engaging and inclusive experience for both the investor and the mining companies raising capital,” James Bellamy, MINEXIA’s Founder & CEO.
