LOS ANGELES (July 19, 2024) – Platinum Equity announced today that the sale of the Hunterstown power generation facility and related assets to LS Power has been completed.

Financial terms were not disclosed.

Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid, with enough to supply more than 600,000 homes.

“Hunterstown is a good example of how Platinum can use its playbook to create value in different ways,” said Platinum Equity Co-President Louis Samson. “The Hunterstown facility is an outstanding asset, with high free cash flow and strong recurring revenue, acquired from a seller that needed a divestiture solution during a time of distress, so it checked a lot of the boxes we typically look for. Our experience with corporate carveouts and our willingness to be open minded put us in position to help.”

Platinum Equity acquired the facility in 2018 from GenOn, a unit of NRG Energy Inc. (NYSE: NRG), which had filed for bankruptcy protection in June 2017, and managed it as a standalone business in the firm’s portfolio.

“Hunterstown performed well and benefited from meaningful investment and operational oversite during our ownership,” said Platinum Equity Managing Director David Glatt. “We then found a new home for the facility with a buyer who is a natural fit for the long term. We are proud of the outcome and will continue seeking opportunities to put our M&A capabilities to work in creative ways.”

Evercore served as financial advisor to Platinum Equity on the sale of Hunterstown and Latham & Watkins LLP provided legal counsel to Platinum Equity.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

Sydney, July 18, 2024 – Blackstone (NYSE:BX) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have made a structured equity investment into Symphony Infrastructure Partners (“Symphony”), Australia’s leading energy transition infrastructure services platform.

Symphony was founded in 2022 by Steve Butler with a mission to accelerate Australia’s energy transition to renewables. The company develops, operates, and owns specialized services critical to Australia’s energy transition. Blackstone’s investment provides capital for Symphony to complete multiple pending acquisitions that will bring industry-leading capabilities into the platform and also involves a commitment of funding towards the future growth of the company.

Steve Butler, Chief Executive Officer, Symphony, said: “We are thrilled to partner with Blackstone, the world’s largest alternative asset manager, and join its global network of high-quality companies around the world. Blackstone brings incredible scale and access to capital, and we share the vision of growing the business and spearheading Australia’s energy transition.”

Michael Blickstead, Head of Australia & New Zealand Private Equity, Blackstone, said: “We are pleased to partner with the management team to take Symphony on its next chapter of growth and contribute to Australia’s energy transition. Our success in Australia and around the world has been based on two factors: partnering and having close alignment with visionary founders and building businesses through our scale and expertise. We bring this same commitment to Symphony, where we will provide our full breadth of resources and capabilities to support the company’s long-term success.”

Daniel Kearns, Managing Director in Blackstone Tactical Opportunities, said: “At Blackstone, the energy transition is a major investment theme both globally and in Australia, where we’ve made marquee investments in companies with innovative solutions that address the world’s transition into renewable energy. Australia is still in the early stages of its energy transition journey, and we couldn’t be more excited to partner with a market-leading platform in Symphony and provide the capital and resources to fuel its continued growth.”

Blackstone is a committed investor in Australia, bringing a track record of providing flexible partnership capital for founders, building businesses into market leaders, and delivering for stakeholders. It has made a number of investments in Australia-based companies supporting the energy transition including Xpansiv, a premier infrastructure platform for global carbon and environmental commodities, and Energy Exemplar, a leading global provider of energy market simulation software.

About Blackstone 
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram

Media Contact
Ellen Bogard
Ellen.Bogard@blackstone.com
+852 3651 7737

Quatt Secures 25 Million Euros in Growth Funding

Funding will be for new products and international expansion

Amsterdam, July 17, 2024 – Quatt, an Amsterdam-based scale-up specializing in smart heat pumps, today announces €25 million in a growth equity funding round led by Blue Earth Capital, with participation from Seaya Andromeda and existing investor Impact Equity Fund.

Quatt has experienced rapid growth over the past two years, installing over 7,500 smart heat pumps throughout the Netherlands, and the organization has seen significant expansion. “Due to its quick payback period, more and more Dutch people are opting for our heat pump,” says Marijn Flipse, CEO and co-founder of Quatt. “In the three years since our inception, we have secured a leading position in the heat pump market thanks to our consumer-centric approach, smart software and attractive design. By focusing on product development, sales, and installation all in-house, we deliver an excellent customer experience at a very competitive price. This is now recognized by international investors as well.”

New Products and Crossing Borders
Quatt’s flagship product is the “Hybrid”, an ingenious intermediate solution towards fully decarbonizing residential heating by connecting a Quatt-designed hybrid heat pump to customers’ existing boilers, therefore reducing their gas consumption by up to 80% while keeping the boilers for back-up heating needs.  Quatt recently introduced two add-ons to Hybrid – the “All-Electric” heat pump and its patented cooling system “Chill.” This financing will enable Quatt to accelerate the development of these and other new products

Flipse adds, “Over the next 5-10 years, Europe will need to take significant steps in transitioning the built environment to sustainable energy. We aim to make sustainable homes accessible to everyone while reducing energy costs. We look beyond just the heat pump and Dutch borders.” As part of its expansion strategy, Quatt is complementing its market-leading online lead generation with collaborations with installation partners, energy companies, and other market players.

Energy transition
“Heat pumps are an important part of the energy transition for Europe, where nearly 80% of final energy consumption in the residential sector is used for space and water heating[1], with a high dependence on natural gas,” says Kayode Akinola, Head of Private Equity at Blue Earth Capital. “Quatt’s differentiated approach and product suite address common barriers to heat pump adoption by building consumer confidence. This enables real energy and cost savings whilst starting the transition to electrification of an important part of the household and working to decarbonize residential properties. This approach aligns with BlueEarth’s aim to support the energy transition by providing growth equity and support to companies offering products and services that contribute towards decarbonization.”

Carlos Fisch, partner and co-Head at Seaya Andromeda says “Quatt’s modular system will play an important role in the energy transition. Consumers can gradually switch to sustainable energy. From this winter, Quatt’s hybrid heat pump can be upgraded to a fully electric pump, and in the spring of 2025, they will launch Chill, a unique air conditioning system that cools using the existing heat pump. With this product roadmap, we believe Quatt can become a category leader. We are looking forward to supporting the team with their efforts to expand in Europe.”

The Dutch Impact Equity Fund is also participating in this funding round. Randolf Nijsse, founder of Impact Equity Fund, is particularly impressed by the focus on the customer journey of the Dutch smart heat pump company. “The ease of purchase is crucial for success and impact on the energy transition. Quatt’s products are low-threshold, making them distinctive in this market.”

About Quatt
Quatt is an Amsterdam-based scale-up specializing in smart heat pumps. The company develops, produces, and installs Quatt Hybrid, a hybrid heat pump powered by smart software. Quatt is a market leader in the Netherlands and distinguishes itself by making heat pumps accessible, offering the best payback time, and using smart software. The rapidly growing company has about 160 employees and was founded in 2021 by brothers Marijn and Bas Flipse. They aim to help 3 million households transition to sustainable energy by 2030.

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

About Seaya Andromeda
Seaya Andromeda is a Pan-European Climate Tech Venture capital focused on growth. With €300M assets under management, Andromeda is an SFDR Article 9 fund on a mission to address global sustainability challenges and deliver profits with purpose through investments in technology-driven companies focusing on Energy, Decarbonization, the Circular Economy, and the Sustainable Food Value Chain. Seaya Andromeda is part of Seaya, the leading European Venture Capital platform, with offices in Madrid, Barcelona, and Mexico City. Seaya raised its first fund in 2013 and currently manages over €650 million across five early-stage venture funds. Seaya accelerates the growth of startups by leveraging the founder’s strategic vision, providing them with Seaya’s global platform, its extensive network of founders, investors, and multinational corporations, as well as all its experience in the worldwide expansion of companies such as Glovo, Cabify, Wallbox (NYSE:WBX), Clarity AI, Clicars, Alma and RatedPower.

About Impact Equity
Impact Equity Fund, based in the Netherlands, is committed to generating sustainable financial returns while driving measurable social and environmental impact. The firm invests in innovative enterprises that align with its core values of sustainability, equity, and transformative growth, leveraging its expertise and network to support ventures that contribute to a better society and environment.

Press contact

blueearthcapital@kekstcnc.com

HONG KONG, July 15, 2024 – (ACN Newswire) – Legend Capital’s portfolio company, Singfilm Solar, a leading innovator in the research and manufacturing of high-efficiency perovskite solar cells, has announced that its self-developed perovskite solar module has achieved a steady-state conversion efficiency of 22.6%, certified by authoritative institutions. This breakthrough has earned a place in the esteemed Martin Green Efficiency Table (Version 64), marking the third time Singfilm Solar’s innovations have been recognized by this authority. This achievement underscores Singfilm Solar’s pioneering status in the global perovskite field and highlights the potential for transitioning from laboratory research to commercial production.

Founded in July 2023 in Singapore, Singfilm Solar’s team brings over a decade of experience in perovskite materials, processes, and equipment. The company is focused on developing and producing highly efficient and stable perovskite cells.

The improvement of photovoltaic conversion efficiency is crucial, as each 1% increase can result in a 4% rise in power generation and revenue. Perovskite cells, with their ideal band gap width, offer theoretical efficiencies of over 33% for single-junction and 43% for tandem cells, far exceeding traditional crystalline silicon cells. This positions perovskite as the next-generation photovoltaic material.

Despite its potential, the widespread adoption of perovskite in the photovoltaic industry has been hindered by stability challenges. Achieving a balance between power conversion efficiency and operational stability under complex conditions, while also ensuring manufacturing scalability, remains a critical hurdle. Moreover, exploiting the unique properties of perovskite, such as adjustable band gap, lightweight, high efficiency, and simple raw materials, to develop various photovoltaic products for different applications is a significant challenge in its commercialization.

Singfilm Solar’s proprietary Quasi-Mono high-quality perovskite industrial preparation technology supports high-throughput continuous production on large rigid and flexible substrates. Accelerated aging tests have validated the commercial product’s lifespan, making Singfilm’s commercial-sized perovskite modules the first to combine high efficiency, stability, and manufacturability. The company holds several core technologies in perovskite materials, preparation methods, and cell and module structures.

The founder of Singfilm Solar, Professor Yi Hou, is a Presidential Young Professor at the National University of Singapore (NUS) and leads the Perovskite and Tandem Solar Cells group at the Solar Energy Research Institute of Singapore (SERIS). A pioneer in perovskite research, Professor Hou’s work has been published in top academic journals such as Science and Nature （https://blog.nus.edu.sg/yihoulab/). The establishment of Singfilm Solar has received substantial support from NUS, providing a strong scientific foundation for the company’s rapid development.

In early 2024, Legend Capital led a round of angel funding for Singfilm Solar. This financing aims to expand Singfilm’s pilot line in Singapore, enhance the R&D team, and develop a global client base.

Professor Yi Hou, founder of Singfilm Solar, stated:

We are standing at the pinnacle of a perovskite technology revolution, committed to transforming laboratory innovations into real-world applications. Singfilm has not only repeatedly broken the records of the power conversion efficiency of perovskite solar cells but has also continuously made significant progress in device stability and scalable manufacturability.

I am filled with anticipation and excitement for Singfilm’s first commercial project in Europe. This is not only a recognition of our team’s technological maturity but also an important step in showcasing innovative clean energy solutions to the world.

I would like to thank Legend Capital and all the partners who support Singfilm. It is your trust that allows us to keep moving forward. We look forward to welcoming a brighter future for perovskite technology together with you all.

Managing Director of Legend Capital, Wenlong Wang, commented:

Singfilm is dedicated to creating the next generation of mainstream photovoltaic products, attracting top experts in perovskite research and thin-film industrialization from around the world. The team possesses comprehensive and solid technical expertise, and what is even more commendable is their focus on addressing the challenges of mass production implementation from day one.

Legend Capital is fortunate to be part of this exciting entrepreneurial journey, actively providing support in equipment, materials, scenarios, and channels by leveraging its accumulated resources in the new energy industry. Congratulations to the company for breaking the world record in its debut, and I look forward to this young and high-potential team continuing to make breakthroughs and successfully achieving subsequent milestones.

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.

The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.

For further information, please contact:
Ms. Orianna Ou / Ms. Arina He
Tel: +852 3468 8171
Email: legendcapital.list@everbloom.com.cn

News URL: https://www.acnnewswire.com/press-release/english/91775/

UNITe is a multi-technology renewable power specialist with more than 1.5 GW of projects under development
• This investment will support a new chapter of growth for UNITe and reinforce Ardian’s commitment to sustainable energy further strengthening its global renewables platform

SALT LAKE CITY, Utah, May 9, 2024 – Energy Exemplar, a leading global provider of energy market simulation software, today announced the completion of its acquisition by private equity funds affiliated with Blackstone (”Blackstone”) and Vista Equity Partners (“Vista”).

“Completing our transaction with Blackstone and Vista marks the beginning of an exciting partnership that will accelerate investment in our leading SaaS platform providing accurate simulation and decision support for our customers in today’s rapidly changing energy landscape,” said David Wilson, CEO of Energy Exemplar. “I’d like to thank everyone across the Energy Exemplar organization for their unwavering commitment throughout this process and for maintaining exceptional service to our clients as we continue to grow as one global team.”

“Software is a vital component of the global energy transition, and Energy Exemplar provides critical modeling and analytics solutions to customers across the industry to help them become more efficient, reliable and profitable,” said Ryan Atlas, Managing Director at Vista Equity Partners. “We look forward to partnering with David, Blackstone and the entire Energy Exemplar team during this exciting next phase of growth.”

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, added: “We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”

About Energy Exemplar

Energy Exemplar is a market leader in the technology of optimization-based energy market simulation. Our cloud software suite, headlined by PLEXOS® and Aurora, is used across every region of the world for a wide range of applications, from short-term analysis to long-term planning studies. It is relied upon by hundreds of organizations worldwide to inform multi-million-dollar decisions. Our people continually think of novel approaches and more realistic simulations that enhance decision making, create market opportunities and enable utilities and regulatory authorities to become smarter, more energy efficient and profitable. Energy Exemplar continues to ‘push the envelope,’ being first-to-market with the latest advances in programming and energy market simulations, as it strives to offer the most comprehensive energy analytics platform to its customer base.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $21 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable, and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Vista Equity Partners

Vista is a leading global investment firm with more than $101 billion in assets under management as of September 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.

Media Contacts

For Energy Exemplar
Erin Marks
Erin.marks@energyexemplar.com
(636)-686-8649

For Blackstone
Kate Holderness
Kate.holderness@blackstone.com
(917) 318-6818

For Vista Equity Partners
Brian Steel
media@vistaequitypartners.com
(212) 804-9170

NEW YORK and DES PLAINES, Ill., April 3, 2024 /PRNewswire/ — BC Partners Credit, the credit arm of BC Partners, a leading alternative asset management firm, and Riddell, Inc., the industry leader in football helmet technology and sports protection innovation, today announced a strategic partnership that will further advance Riddell’s central role in the game of football into the future.

Founded in 1929 and based in Des Plaines, Ill., Riddell is an iconic brand serving the football equipment market and sports community for nearly a century. Riddell is the premier designer and manufacturer of football helmets, protective sports equipment, head impact sensing and reporting technologies, and related apparel and accessories. The Company also serves as the exclusive licensee of the NFL for collectible helmets and maintains promotional rights with the League as an authorized supplier of helmets worn by more than 77% of NFL players. Riddell is deeply involved in football with key touchpoints at the grassroots level as representatives are strategically based in local communities to address customer needs and provide support.

Riddell’s historically strong growth and financial performance have only improved in recent years, driven by the Company’s robust head protection and technologies roadmap, increased market share, and positive football participation trends. BC Partners’ $400mm investment in Riddell, which includes convertible preferred equity and debt, will empower Riddell to accelerate innovation and make compelling investments in the business for the benefit of all stakeholders. BC Partners will join Riddell’s Board, working closely with Riddell’s management team and committed investors, including majority investor Fenway Partners, who have been pivotal to Riddell’s longstanding success. Riddell will refinance certain existing debt and provide a dividend to current investors as part of the transaction.

“From its market leadership, attractive financial profile, and differentiated portfolio, Riddell has demonstrated it is built for sustained success,” said Ted Goldthorpe, Head of BC Partners Credit. Mr. Goldthorpe continued, “We are pleased to have structured an investment that is customized for Riddell, as the Company embarks on an exciting growth trajectory, with increased investments in research and product development, strategic partnerships, and a best-in-class distribution platform. Dan and the entire Riddell team are exceptional, and we are excited to partner with them.”

Dan Arment, President, and Chief Executive Officer of Riddell, said, “Riddell proudly welcomes BC Partners as advisors and investors in our business. We clearly maintain a shared vision for maximizing Riddell’s role in the rapidly evolving products and services landscape within football and sports. This alignment will ultimately strengthen Riddell’s service to our customers, drive increased financial performance, and deliver value for our investors, including BC Partners and Fenway Partners.”

Said Fenway Partners Co-Founder and Managing Partner, Peter Lamm, “We welcome BC Partners to the Riddell team and look forward to working with them to drive continued innovation and growth. With the best management team in the industry, Riddell is well positioned to deliver outstanding performance for athletes and value for all of its investors.”

Three Ocean Partners served as the sole financial advisor to BC Partners Credit on both the preferred and debt financing, and King & Spalding LLP acted as legal advisor.

UBS Investment Bank and Baird served as financial advisors to Riddell, and Lowenstein Sandler LLP acted as the legal advisor to the Company in connection with the transaction.

About Riddell

Riddell was founded with a goal of giving back to the football community while advancing and improving athlete protection. As the long-standing leader in football head protection and protective athletic equipment for 95 years, Riddell is leading the game to a strong future by creating a path to next generation protection. Riddell also offers best-in-class reconditioning services to help ensure athletes have access to clean, sanitized, and recertified equipment. Off the field, Riddell’s licensed collectibles business is regarded as the cornerstone of football collectibles for fans and collectors of college and the NFL. For more information, visit www.Riddell.com or follow @RiddellSports on Instagram, Twitter, Facebook, and YouTube.

About BC Partners & BC Partners Credit

BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. To date, BC Partners Credit has completed more than 400 transactions. For further information, visit www.bcpartners.com/credit-strategy.