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KKR Invests in Enilive to Accelerate Sustainable Mobility and the Energy Transition

KKR

LONDON & MILAN–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the signing of an agreement under which KKR will acquire a 25% stake in Enilive, Eni’s mobility transformation company dedicated to biorefining, biomethane production, smart mobility solutions, and providing services to support people on the move. Closing of the transaction is subject to customary regulatory approvals.

As a leader in the energy transition, Enilive aims to provide progressively decarbonized services and products in support of a sustainability-driven mobility transformation. The company’s cutting-edge technologies and global reach position it at the forefront of the transition to cleaner energy solutions and contribute to Eni’s goal of achieving carbon neutrality by 2050.

Alberto Signori, Partner in KKR’s European Infrastructure team, said: “We are thrilled to strategically partner with Eni on this investment in Enilive, a key player in advancing the energy transition. This aligns with our strategy to support transformative energy projects across Europe. With our global infrastructure platform and local expertise, we’re excited to help Enilive scale its impact in decarbonizing transportation and expand internationally. We look forward to contributing to its continued growth and success.”

Enilive’s Chief Executive Officer, Stefano Ballista, commented: “We are pleased with the entry of a significant partner like KKR into Enilive, who will ensure a strong support to our relevant growth path and in the transition towards an increasingly decarbonized offering for sustainable mobility.”

KKR has been consistently investing in Italy across asset classes since 2005, with a commitment to supporting the country’s economic and social development. Most recently, KKR announced the closing of its acquisition of Telecom Italia’s fixed-line network and incorporation into FiberCop, creating the most extensive Italian broadband network serving around 16 million households and helping to fast-track the digital transition in Italy.

KKR is making the investment in Enilive through its Global Infrastructure Strategy. The firm first established its Global Infrastructure Strategy in 2008 and has since been one of the most active infrastructure investors around the world, currently managing over $73 billion in infrastructure assets.

Financial advisors for KKR on this transaction were Deutsche Bank and Unicredit, with Kirkland & Ellis and Gianni & Origoni serving as legal counsel.

About KKR:

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Enilive:

Enilive is Eni’s company dedicated to biorefining, biomethane production, smart mobility solutions including Enjoy car sharing, and the distribution of all energy carriers for mobility, through its more than 5,000 Enilive Stations in Europe, where there is a wide range of products including HVOlution biogenic fuel (100% Hydrogenated Vegetable Oil), bio-LPG and biomethane. And where several services are also available to support people on the move, including electric recharging and food services such as Eni Café (the largest cafe chain in Italy) and ALT Stazione del Gusto, a new project in partnership with Accademia Niko Romito. Enilive aims to provide progressively decarbonized services and products for the energy transition, contributing to Eni’s goal of achieving carbon neutrality by 2050 also through industrial assets that include the Venice and Gela biorefineries, in Italy; the St. Bernard Renewables LLC (50% joint venture with PBF Energy) in Louisiana (United States of America); numerous biogas plants being converted to biomethane production in Italy, as well as new projects: in Livorno, where the third Enilive biorefinery in Italy is under construction, in Malaysia and in South Korea. Enilive plans to increase its biorefining capacity to over 5 million tonnes/year by 2030.

KKR
Italy
Tancredi Group
Giovanni Sanfelice Di Monteforte
giovanni@tancredigroup.com
+447775858152

Cristiano Signorini
cristiano@tancredigroup.com
+447950413690

International
FGS Global
Alastair Elwen/ Jack Shelley
KKR-Lon@FGSGlobal.com
+44 20 7251 3801/ +44 7917 886 576

Enilive
ufficio.stampa@eni.com

Source: KKR

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EQT, together with CPP Investments and Temasek and Keywords Studios, announce acquisition completion

eqt

EQT and Keywords Studios are pleased to announce that the investor group led by EQT, together with Canada Pension Plan Investment Board (CPP Investments) and Temasek, has completed its previously announced acquisition of Keywords Studios, the leading international video games service provider. Keywords Studios’ ordinary shares have now ceased trading on the AIM market and the company has been delisted from the London Stock Exchange.

Since its admission to AIM in July 2013, Keywords Studios has become the trusted global solutions provider to the world’s leading video games and entertainment companies, working with them across the full content development cycle, from concept through to launch and beyond. Keywords Studios has an excellent track-record of evolving the business to meet its clients’ needs and has a diversified portfolio with services across the video-games life cycle.

As a global investor with decades of experience investing in services and technology, EQT’s support for Keywords’ management team and strategy will enable it to accelerate its growth, including through additional capital for its value accretive acquisition strategy. It will also enable the business to expand into new and adjacent markets and invest in innovative technologies and services that will help it continue to meet changing customers’ needs and maintain its status as the global gaming services market leader.

On behalf of the consortium, Janice Leow, Partner in the EQT Private Equity Advisory Team and Head of Private Capital Southeast Asia, commented: “We look forward to a strong partnership with the Keywords Studios management team to support and build on their strategy as a global leader in end-to-end video gaming technology services. Operating in a rapidly expanding market with strong tailwinds underpinned by a continued shift towards lean-forward entertainment, Keywords Studios is well-positioned to unlock substantial long-term value through its strong talent base and deep industry relationships. As the sector continues to evolve, the company’s focus on technology innovation, higher value-added services, and international expansion will be critical in driving future growth.”

Keywords Studios CEO Bertrand Bodson said: “This is a significant milestone for Keywords Studios as we start the next phase of our growth journey alongside our new partners. The hard work and dedication of everyone at Keywords Studios, as well as the long-standing support of our clients and shareholders, has enabled our growth over the last decade and I would like to thank them all for their support. We are confident that our expertise, combined with EQT’s resources, will only strengthen our ability to serve our customers and realise our growth potential and mission to be the world’s leading content creation platform for the video gaming industry. I look forward to what the next chapter will bring for our company, customers and employees.”

EQT has a long and successful track record investing in the services and technology industries, working alongside entrepreneurial management teams to accelerate growth in global businesses and transform them into industry leaders. EQT is investing from its BPEA Private Equity Fund VIII.

With this transaction, BPEA Private Equity Fund VIII is expected to be 80-90 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of BPEA Private Equity Fund VIII will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, X, YouTube and Instagram

About Keywords Studios

Keywords Studios partners to deliver creative and technology-enabled solutions to the global video games and entertainment industries. Established in 1998, and now with over 70 facilities in 26 countries strategically located in Asia, Australia, the Americas, and Europe, it provides services across the entire content development life cycle through its Create, Globalize and Engage service lines to a large blue-chip client base across the globe.

Keywords Studios has a strong market position, providing services to 24 of the top 25 most prominent games companies and contributing to over 70% of the 2023 Game Awards winners.

Across the games and entertainment industry, clients include Bandai Namco, Bethesda, Electronic Arts, Epic Games, Konami, Microsoft, Netflix, Riot Games, Square Enix, Supercell, TakeTwo, Tencent and Ubisoft. Recent titles worked on include Starfield, Baldur’s Gate 3, Hogwarts Legacy, Elden Ring, Fortnite, Valorant, League of Legends and Clash Royale. Keywords Studios’ wide range of services also supports media and entertainment companies such as top tier streaming platforms, broadcasters, content producers and distributors.

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Carlyle Announces the Listing of Rigaku on the Prime Market of the Tokyo Stock Exchange

Carlyle

Tokyo, Japan, 25 October 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced the listing of Rigaku Holdings Corporation (“Rigaku”), a leading global manufacturer of analytical instruments focused on X-ray analysis, measurement and testing instruments, on the Prime Market of the Tokyo Stock Exchange.

Founded in 1951 and headquartered in Tokyo, Rigaku’s innovative product suite is used across a wide range of science and technology applications, including state-of-the-art R&D and production. Rigaku has advanced R&D capabilities primarily focused on XRD (X-ray diffraction) and XRF (X-ray fluorescence) and serves a highly diversified customer base in over 90 countries, including academic and research institutions as well as blue chip companies in industries spanning semiconductors, electronic devices, batteries, pharmaceuticals, steel and cement, among others.

Carlyle acquired Rigaku in 2021 and has since worked closely with management to deliver strong growth, establishing the company as a leading international player in the field of analytical and industrial instrumentation technology. This has been achieved through developing Rigaku’s range of products and applications, continuous investment in R&D and innovation, as well as expanding its global footprint and overseas manufacturing capabilities.

Takaomi Tomioka, Co-Head of Carlyle Japan, said: “It has been a privilege to work closely alongside Rigaku’s exceptional management team in this important period of its growth story, driving the business’ overseas expansion, enhancing its operational and commercial efficiency, and strengthening management. Rigaku is well positioned to continue its growth trajectory as it takes the next step in its evolution in the public markets.”

Jun Kawakami, CEO of Rigaku, said: “Through our partnership with Carlyle, Rigaku has experienced significant growth over the past four years, leveraging the benefits of working alongside a global financial sponsor with deep experience of internationalizing Japanese businesses. Today marks a significant milestone in Rigaku’s history, and we believe the business is well-placed to build upon its leadership position and drive further growth as a public company.”

Carlyle’s Japan buyout platform has invested more than JPY 450 billion across approximately 40 private equity investments since 2000. Rigaku represents the ninth portfolio company of Carlyle’s Japan buyout platform to become a listed company in the region.

__

This press release does not constitute an offer of securities for sale in the United States. Securities of Rigaku Holdings Corporation may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Rigaku Holdings Corporation and that will contain detailed information about the Rigaku Holdings Corporation and its management, as well as financial statements.

 

About Carlyle 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. For more, follow Carlyle on X and LinkedIn.

 

 

Carlyle Media Contacts

Andrew Kenny, Global Corporate Communications

+44 7816 176120

andrew.kenny@carlyle.com

 

Brunswick Group:

David Ashton / George Ohyama

+81 80 9713 2020 / +81 80 7340 1015

carlylejp@brunswickgroup.com

 

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Pine Gate Renewables Closes $288 Million Preferred Equity Financing with Blackstone Credit & Insurance

Blackstone

The transaction represents the new paradigm of renewable energy project finance

Asheville, North Carolina – Today, Pine Gate Renewables, LLC, announced the closing of a $288 million preferred equity investment with funds affiliated with Blackstone Credit & Insurance (“Blackstone”). The investment supports six solar projects across two states totaling 780 MWdc, all backed by corporate offtake agreements. The new partnership with Blackstone illustrates Pine Gate’s preference to execute replicable, scalable transactions and underscores the company’s role as a preferred provider of commercial renewable energy solutions.

“Leading Pine Gate’s first preferred equity investment was a significant milestone for our team and the enterprise at large,” said Meghan Comiskey, Executive Vice President for Structured Finance at Pine Gate Renewables. “A multiportfolio transaction with the exceptional partnership of Blackstone enables us to scale our business efficiently as we generate The Power of Tomorrow™.”

Zach Rubenstein, Managing Director at Blackstone Credit & Insurance added: “Pine Gate is a high-quality developer with a strong track record and we look forward to growing our partnership with them. This transaction is emblematic of our differentiated origination and structuring capabilities in the energy transition sectors, where we seek to deliver great outcomes for our partners and investors as a leading player in the market.”

Stoel Rives LLP advised Pine Gate Renewables on the transaction. Milbank LLP advised Blackstone Credit & Insurance.

About Pine Gate Renewables
Pine Gate Renewables is a developer and owner-operator of utility scale solar and energy storage projects across the United States. Founded in 2016, Pine Gate is dedicated to the innovative deployment of clean energy and has extensive experience in the development, financing, construction, and operation of solar and energy storage facilities. A trusted partner and leader in the industry, Pine Gate has closed more than $7 billion in project financing and capital investment. Pine Gate’s operational fleet includes over 100 solar facilities accounting for more than two gigawatts (GW) of installed capacity and it has over 30 GW of projects in development.

About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Media Contact
Pine Gate Renewables
Maggie Sasser
(919) 616-7437
media@pgrenewables.com

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Oakley Capital agrees sale of Schülerhilfe to LLCP

Oakley

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund III (‘Fund III’) has agreed to sell its majority stake in Schülerhilfe to Levine Leichtman Capital Partners (“LLCP”). The completion of the transaction is subject to regulatory approval.

Schülerhilfe is the leading provider of professional tutoring services to primary and secondary school students across Germany, Austria and Switzerland, with over 140,000 students across c.1,200 branches. Oakley invested in the business in 2017 alongside education entrepreneur Dieter Werkhausen, building on the Firm’s track record of backing successful education businesses.

In partnership with Oakley, Schülerhilfe has strengthened its position as a provider of tutoring services for K-12 students in its core markets, by focusing on quality in-person tutoring, complemented by an online offering and language courses for adults.

Schulerhilfe CTA

Oakley helped Schülerhilfe pivot its teaching programme to online when Covid lockdowns kept students at home, before enrolments rebounded to pre-pandemic levels.

Shutterstock 2413318031

Schülerhilfe’s ongoing investment in online has allowed it to sustain hybrid learning, as well as support new technology initiatives, including the highly successful launch of “Kira”, an online AI learning chatbot.

Meanwhile, Schülerhilfe’s expansion into language courses for adults including on-site, online and B2B, has helped grow its total addressable market. More recently, Oakley has supported Schülerhilfe’s ongoing expansion within DACH, via the acquisition of fit4school in Switzerland, one of the leading tutoring firms in the country with 34 corporate centres. Today, Schülerhilfe is the clear market leader in the DACH region with 720 of its own corporate centres and 431 franchise centres, making it the third largest franchise network in Germany.

Quote Peter Dubens

Schülerhilfe has succeeded by delivering on an ambitious expansion strategy without sacrificing the quality of its tutoring. Under Dieter’s leadership, the business has expanded into new geographies and services, and today is a key partner for students striving for education success.

Peter Dubens

co-Founder and Managing Partner — Oakley Capital

Quote Dieter Werkhausen

At Schülerhilfe we’re proud of our record helping thousands of students each year to improve their grades and get ahead in school. We’ve had a very fruitful partnership with Oakley, and have appreciated their entrepreneurial approach. In particular, we have leveraged their strong M&A track record as well as their expertise in digitisation which together have helped us deliver our strategic goals. Now, we look forward to working with LLCP as we aim to accelerate our growth and reinforce our position as market leader in the DACH region.

Dieter Werkhausen

CEO — Schülerhilfe

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Polaris and 7N enter partnership

Polaris

We are pleased to announce that Polaris Private Equity V K/S has signed an agreement to acquire 7N A/S, a provider of freelance IT consultants. The investment will be the twelfth investment in the fund since inception. 7N is headquartered in Copenhagen, Denmark, with a global reach and local presence across seven countries with core markets being Denmark and Poland, and recorded DKK +1,500m revenue in 2023.

“We have known and respected 7N for many years, and we are impressed with the quality of the consultants, staff and customers, who continues to hold great growth and development potential. Based on a proven delivery model that integrates the best aspects of traditional IT and brokerage consultancies, combined with robust core values, 7N has delivered strong performance and holds the potential to further develop into a true industry leader. We look forward to cooperating with the 7N team on their strategic priorities and contributing to the continued progress through targeted investments while also drawing on our prior experience from the freelance IT consultancy space,” says Rune Lillie Gornitzka, Partner at Polaris.

Please see the following press release:

English
Danish

For further information, please contact:
Rune Lillie Gornitzka, Partner
Phone: +45 3525 3465
Mail: rg@polarisequity.dk

Joachim Satchwell, Director
Phone: +45 3525 3107
Mail: js@polarisequity.dk

Jan Johan Kühl, Managing Partner
Phone: +45 3526 3574
Mail: jjk@polarisequity.dk

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AlphaGen Announces Successful Completion of $3.7 Billion Inaugural Corporate Financing

Arclight

HOUSTON, Oct. 23, 2024 /PRNewswire/ — Alpha Generation, LLC (“AlphaGen”), owner of one of the largest power infrastructure portfolios in the United States, today announced it has completed its inaugural corporate financings, consisting of a $2 billion senior secured term loan, $1 billion of senior notes, and a $700 million senior secured revolving credit facility. ArcLight Capital Partners, LLC (together with its affiliates, “ArcLight”), a leading middle market infrastructure firm, announced the creation of AlphaGen earlier this year.

The financing transactions were part of a corporate reorganization where existing companies – including Parkway Generation, Generation Bridge, and recently acquired Lordstown Energy Center – became subsidiaries of AlphaGen. Net proceeds from the term loan and notes were used to repay certain indebtedness of these subsidiaries, support commercial and strategic opportunities, and fund other general corporate purposes.

“We are pleased to announce the successful completion of our strategic financing initiative, which strengthens our financial position and enhances our ability to capitalize on the growing demands in the power industry,” said Stacey Peterson, Chief Financial Officer of AlphaGen. “This significant milestone underscores investor confidence in the AlphaGen portfolio and its strategic footprint which is well positioned to help meet growing power demand, including through ongoing work with data center developers and hyperscalers.”

Citi served as lead financing bank, White & Case LLP served as counsel to AlphaGen, and Cahill Gordon & Reindel LLP served as counsel to Citi and the other lead arrangers on the financing transactions.

About AlphaGen
AlphaGen is a strategic partnership formed and owned by an affiliate of ArcLight to own and operate critical power infrastructure to provide reliable, secure, safe, and sustainable sources of power and meet the growing infrastructure needs created by the increased demand for reliable power, including electrification and data center growth. AlphaGen is led, through Alpha Generation Services LLC, by a deeply experienced senior management team with a proven track record of strategic, operational, and commercial expertise to help create value and manage risk. AlphaGen owns over 11,000 megawatts of power infrastructure across four RTO markets (PJM, NYISO, ISONE, and CAISO). For more information, please visit www.alphagen.com.

About ArcLight
Founded in 2001, ArcLight is a leading middle-market, value added infrastructure investment firm with strategic partnerships and investments across the power, renewables, strategic gas, battery storage, and transformative infrastructure sectors. ArcLight has a long history of investing across the electrification infrastructure value chain to help support reliability, security and sustainable infrastructure. ArcLight’s team employs an operationally intensive investment approach that benefits from its dedicated in-house strategic, technical, operational, and commercial specialists, as well as the firm’s ~1,900-person asset management partner. Since 2001, ArcLight’s funds have invested in infrastructure and related businesses with approximately $75 billion of total capitalization. For more information, please visit www.arclight.com.

SOURCE Alpha Generation, LLC

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ADDACTIS Group appoints Frédéric Ceyte as CEO

Fortino Capital

Brussels, October 16th, 2024 – ADDACTIS Group, the RiskTech partner for insurance and reinsurance companies is excited to announce the appointment of Frédéric CEYTE as its new Chief Executive Officer, marking a significant milestone in the company’s strategic evolution.

Frédéric CEYTE, a distinguished leader in the fintech sector, brings extensive experience in driving transformation and growth. His technical expertise and industry knowledge will play a pivotal role in guiding ADDACTIS and its 250 employees towards ambitious growth objectives. Under his leadership, the company aims to develop world-class software solutions, including a sound AI integration strategy, that assist insurers in regulatory compliance, profitability, risk management, and harnessing new data types to address challenges posed by climate change.

Over the past ten months, ADDACTIS has fortified its leadership team with the addition of seasoned SaaS experts: Henk Rogiers (CFO), Rik Vanthuyne (Chief Services Officer), and Alain Delvaux (VP Sales & Marketing), complementing existing leaders Franck Collignon (Chief Product & Technology) and Céline Blattner (Chief Consulting Officer). This strategic alignment places ADDACTIS in a strong position to transition from actuarial services to a Software as a Service (SaaS) provider.

Frédéric will report to the board of Directors, chaired by the group’s founder, Pascal MIGNERY. He will drive innovation and expand internationally, reinforcing ADDACTIS’s position as a leading Software as a Service (SaaS) provider.

 

Pascal MIGNERY, President of ADDACTIS Group: “We are thrilled to welcome Frédéric to our growth journey. His leadership will undoubtedly propel the company forward, fostering innovation and delivering cutting-edge solutions to our clients. We are confident that under his guidance, ADDACTIS will achieve significant international growth and strengthen its European footprint.”

Frédéric CEYTE, CEO of ADDACTIS Group: “I am deeply honored to join ADDACTIS Group at this pivotal moment. Our strategy will focus on innovation and growth, committed to delivering advanced solutions that exceed our clients’ expectations. Our talented team and technology will help Insurers navigate an ever more complex reality on the axis of data, technology and climate. Our strength lies in deep understanding of insurers unique challenges embedded in high tech saas solutions transforming the insurance value chain from regulatory to profitability.”

Frédéric CEYTE, CEO of ADDACTIS Group

For more information, please visit www.addactis.com

 

Categories: People

Dominion Energy, Stonepeak Announce Closing of Sale of Noncontrolling Equity Interest In Coastal Virginia Offshore Wind Commercial Project

Stonepeak

  • Improves Dominion Energy’s quantitative & qualitative business risk profile via highly credit-positive partnership
  • Stonepeak to fund 50% of project construction costs with meaningful protection from any unforeseen increases in the current project construction budget
  • Successfully concludes ~$21 billion debt reduction initiatives associated with Dominion Energy’s business review

RICHMOND, Va. & NEW YORK – October 22, 2024 – Dominion Energy, Inc. (NYSE: D), today announced that it has closed on a transaction to sell a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak. Dominion Energy will retain full operational control of the construction and operations of the project, and Stonepeak will have customary minority rights. The transaction was previously announced Feb. 22, 2024.

With this transaction, Dominion Energy has now successfully completed its business review debt reduction initiatives. During the review, the company announced transactions that represent approximately $21 billion of debt reduction. With the closings of the Cove Point LNG, East Ohio Gas, Questar Gas and Wexpro, and Public Service Company of North Carolina sales; and completion of the fuel securitization at Dominion Energy Virginia and the offshore wind partnership, Dominion Energy has now achieved 100% of the business review target. These actions have improved the company’s balance sheet, reduced its risk profile, and established a renewed focus as a pure-play, state-regulated electric utility business.

Robert M. Blue, Dominion Energy chair, president and chief executive officer, said:

“We are pleased to partner with Stonepeak on CVOW, which continues to proceed on-time and on-budget, consistent with our previously communicated timing and cost expectations. Stonepeak is one of the world’s largest infrastructure investors in large energy projects such as offshore wind, and its financial participation in CVOW will benefit both the project and the people who will rely on electricity from CVOW to keep the lights on and fuel economic growth in the Commonwealth.”

Rob Kupchak, senior managing director at Stonepeak, added:

“We are excited to have closed this investment in CVOW, which exemplifies many of the core tenets of essential infrastructure that we invest behind at Stonepeak. We look forward to continuing our partnership with Dominion Energy’s talented team to bring what promises to be one of the most impactful energy projects in the United States to commercial operation.”

The 2.6-gigawatt CVOW, the largest offshore wind farm currently under construction in the United States, is on schedule to generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026. CVOW will consist of 176 turbines and three offshore substations in a nearly 113,000-acre lease area off the coast of Virginia Beach.

At closing, Dominion Energy received proceeds of $2.6 billion, representing reimbursement of approximately 50% of project-to-date capital investment. Stonepeak will fund 50% of remaining project costs as they are incurred, subject to certain conditions as previously disclosed.

About Dominion Energy
Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 400,000 customers in South Carolina. The company is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company’s mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit DominionEnergy.com to learn more.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. These factors are identified in Dominion Energy’s Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Dominion Energy refers readers to those reports for further information. Any forward-looking statement speaks only as of the date on which it is made, and Dominion Energy undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.

#####

CONTACTS:

Dominion Energy:
Media: Ryan Frazier, (804) 836-2083 or C.Ryan.Frazier@dominionenergy.com
Financial Analysts: David McFarland, (804) 819-2438 or David.M.McFarland@dominionenergy.com

Stonepeak:
Media: Kate Beers / Maya Brounstein, (646) 540-5225 or corporatecomms@stonepeak.com

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Rivean Capital acquires Perbility, one of the leading HCM software providers in Germany

Rivean
  • One of the leading providers of comprehensive and cloud-native human capital management (HCM) software
  • Strong positioning across German (semi-)regulated and B2B sectors

22 October 2024

Frankfurt/Bamberg – Rivean Capital, a leading European private equity investor, has signed an agreement to acquire a majority stake in Perbility Holding GmbH, one of the leading HCM software providers in Germany. The transaction marks another significant platform investment by Rivean Capital in the technology and software sector. Together with Perbility’s current management team, Rivean Capital will acquire the shares from the existing majority shareholder Main Capital Partners.

Perbility’s comprehensive HCM suite – the HELIX platform – covers the entire HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. The company serves more than 1,500 customers, with notable customer references in the financial services sector, the (semi-)public and B2B sectors. Perbility is expected to reach EUR 29 million revenue in 2024, having developed itself into a “Rule of 50” company. Headquartered in Bamberg, the company employs approximately 160 full-time employees across six offices in Germany and a nearshoring center in Turkey.

“Under Main Capital Partners’ ownership, Perbility has shown an impressive growth trajectory, supported by strategic initiatives and a track record in M&A. As next strategic partner, Rivean Capital will support Perbility with expertise and further investments to continue its clear growth strategy. Together, we will strengthen Perbility’s market position in the German-speaking region and further enhance its suite offering through additional strategic add-on acquisitions,” says Matthias Wilcken, Senior Partner at Rivean Capital.

Andreas Meck, founder and CEO of Perbility, will maintain his current position and make a substantial reinvestment in the company. The broader management team will also invest alongside him in the future development of the company.

“We are pleased to have Rivean Capital as a strong and experienced partner by our side, who will support us with capital and strategic expertise to achieve our growth ambitions. With this partnership, we are well-positioned to further expand our market position and attract new customers”, says Andreas Meck, founder and CEO of Perbility.

Next phase of growth and expansion

The new partnership with Rivean Capital will enable Perbility to accelerate its up- and cross-selling efforts across its existing customer base, while further expanding the HELIX platform with new modules. Under Rivean Capital’s ownership, Perbility plans to strengthen its organizational capabilities, and further strengthen its sales team, which will enable the company to expand its reach in the (semi-)public and B2B markets and pursue geographic expansion within the DACH region – also via additional strategic add-on acquisitions.

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About Rivean Capital
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage over EUR 5 billion in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean Capital also has offices in Brussels, Frankfurt/Main, Milan, and Zug, enabling a strong local presence across key European markets.

About Perbility
Perbility is a software provider of cloud-based HR software solutions, founded in 2009 and headquartered in Bamberg, Germany. The company specializes in delivering flexible and intuitive tools that help organizations digitize their HR workflows and enhance operational efficiency. Perbility’s comprehensive suite covers the HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. With a diverse customer base of over 1,500 clients, primarily in the German mid-market, and a dedicated team of approximately 160 full-time employees, Perbility is committed to empowering organizations to optimize their HR processes and drive workforce success.

About Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH, the Nordics, and the United States with approximately EUR 6 billion in assets under management. Main has over 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve profitable growth and larger outstanding software groups. As a leading software investor managing private equity funds active in Northwestern Europe and North America, Main has 75 employees operating out of its offices in The Hague, Düsseldorf, Stockholm, Antwerp, and an affiliated office in Boston.

Media contact Rivean Capital
Susanne Jahrreiss / Ralf Geissler
Jahrreiss Communications
Tel.: +49 89 30 90 52 950
E-mail: welcome@jahrreiss.com

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