Category Archives: News

Ardian increases stake in Heathrow to 32.6%

Ardian

This statement should be read in conjunction with Ferrovial and Ardian’s statements issued on February 26th 2025.

•    Ardian has completed the acquisition of an additional 10% stake in Heathrow Airport allowing Ferrovial, La Caisse (previously CDPQ) and USS to exit their final minority stakes. This acquisition increases Ardian’s stake to 32.6%.
•    Ardian will continue to support Heathrow and its management to deliver sustainable growth and expand the “UK’s Gateway to Growth”. This in turn will support the UK Government’s Plan for Change.
•    Heathrow has shown consistent demand, breaking passenger records for the months of January, April and May so far this year. These results further support the need for a UK hub airport that has the capacity to ensure sustainable trade, business and passenger travel throughout the country and across the world.
•    Acquisition is further evidence of the growing strength and reach of Ardian’s Infrastructure practice as it seeks new investments around the world

Ardian, a world-leading investment firm, today announces that it has completed the acquisition of an additional 10 per cent stake in FGP Topco Ltd (TopCo), the holding company for Heathrow Airport Holdings Ltd, from Ferrovial SE and other TopCo shareholders, La Caisse (previously CDPQ) and USS (the Transaction).
Ardian is the largest shareholder in Heathrow, having previously completed the acquisition of a 22.6% stake in TopCo on 12th December 2024.

“This additional investment highlights the confidence we have in the future of Heathrow, Europe’s leading airport, and Ardian’s broader commitment to essential infrastructure as an asset class. Since we became the largest shareholder of Heathrow in December 2024, we have worked with our fellow shareholders, the management team and the UK authorities to ensure Heathrow provides the best service possible for passen-gers and airlines.
As the airport continues to serve an increasing number of passengers and global trade, we look forward to working with all stakeholders to deliver sustainable growth for the airport, fostering economic benefits across the country.
This investment is a further sign of our commitment to supporting the UK’s economic growth ambitions, combined with a net zero trajectory.  We are very pleased to have joined the discussion with HM Government at the UK France summit this week.” Mathias Burghardt, Executive Vice President, CEO of Ardian France and Head of Infrastructure, Ardian

“There remains strong and increasing demand for aviation which is underpinning the growth at Heathrow. This includes growing passenger demand, and the importance of cargo where Heathrow is already the UK’s biggest port by value. We are delighted the Government has recognized the importance of Heathrow and set out its ambition to see the airport expand. Our experience shows us Heathrow can grow sustainably, and we are ready to support the airport as it pursues expansion alongside the UK Government.” Juan Angoitia, Co-Head of Infrastructure Europe and Senior Managing Director, Ardian

Through its direct infrastructure investment activities, Ardian has significant experience in owning and operating European airports. In the UK, Ardian was a 49% shareholder of London Luton Airport from 2013 until 2018. During Ardian’s period of ownership, a significant redevelopment of the terminal, transport links and infrastructure was successfully completed in close cooperation with Luton Borough Council. In Italy, Ardian was an indirect shareholder of Milan Linate, Milan Malpensa, Naples and Turin airports alongside their regions and municipalities.

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Media contacts

ARDIAN

Liz Morley

liz.morley@5654.co.uk+44(0)7798683108

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RealSense Completes Spin Out from Intel, Raises $50 Million to Accelerate AI-Powered Vision for Robotics and Biometrics

Intel Capital

he newly independent company is set to lead in computer vision and machine perception for physical AI and beyond

SAN FRANCISCO — July 11, 2025 — RealSense, a pioneer in AI-powered computer vision, today announced its successful spinout from Intel Corporation and the close of a $50 million Series A funding round. With investment led by a renowned semiconductor private equity firm and participation from strategic investors, including Intel Capital and MediaTek Innovation Fund, RealSense now operates as an independent company focused on advancing innovation in AI, robotics, biometrics and computer vision.

The new capital will fuel RealSense’s expansion into adjacent and emerging markets and scale its manufacturing, sales and go-to-market (GTM) global presence to meet increased demand for humanoid and autonomous mobile robotics (AMRs), as well as AI-powered access control and security solutions.

“We’re excited to build on our leadership position in 3D perception in robotics and see scalable growth potential in the rise of physical AI,” said Nadav Orbach, CEO of RealSense. “Our independence allows us to move faster and innovate more boldly to adapt to rapidly changing market dynamics as we lead the charge in AI innovation and the coming robotics renaissance.”

RealSense brings to market proven industry traction across robotics, industrial automation, security, healthcare and “tech for good” initiatives — including partnerships with companies like ANYbotics, Eyesynth, Fit:Match and Unitree Robotics.

RealSense will continue to support its existing customer base and product roadmap, including the acclaimed RealSense depth cameras, embedded in 60% of the world’s AMRs and humanoid robots, an incredibly fast-growing segment. Its recently launched D555 depth camera, powered by the next-gen RealSense Vision SoC V5 and featuring Power over Ethernet (PoE), demonstrates the company’s ongoing leadership in embedded vision technology and edge AI capabilities.

“Our mission is to enable the world to integrate robotics and AI in everyday life safely,” said Orbach. “This technology is not about replacing human creativity or decision-making — but about removing danger and drudgery from human work. Our systems are built to amplify human potential by offloading these types of tasks to machines equipped with intelligent, secure and reliable vision systems.”

RealSense has developed robust, global manufacturing technology capabilities to ensure consistent quality and product performance, working with a broad network of vision system distributors and value-added resellers. The company has over 3,000 customers worldwide, with over 80 global patents.

Seasoned leadership for a critical market moment

RealSense’s founding team brings together veteran technologists and business leaders with deep expertise in computer vision, AI, robotics and market development. The team includes:

  • Nadav Orbach – Chief Executive Officer
  • Mark Yahiro – Vice President, Business Development
  • Mike Nielsen – Vice President, Marketing
  • Fred Angelopoulos – Vice President, Sales
  • Guy Halperin – Vice President, Head of R&D
  • Eyal Rond – Vice President, AI and Computer Vision
  • Joel Hagberg – Vice President, Product
  • Ilan Ofek – Vice President, New Product Introduction and Manufacturing
  • Chris Matthieu – Chief Developer Evangelist

The spinout comes at a moment of rapid global growth in robotics and biometrics. The robotics market is projected to quadruple — from $50 billion today to over $200 billion within six years — while demand for humanoid robots is expected to grow at a CAGR above 40%. At the same time, facial biometrics are becoming increasingly accepted in everyday applications, from airport screening to event entry.

To meet global demand, RealSense plans to expand its GTM team and hire additional AI, software and robotics engineers to accelerate product development.

About RealSense

Incubated at Intel Corporation, RealSense delivers industry-leading depth cameras and vision technology used in autonomous mobile robots, access control, industrial automation, healthcare and more. With a mission to deliver world class perception systems for physical AI and safely integrate robotics and AI into everyday life, RealSense provides intelligent, secure and reliable vision systems that help machines navigate and interact with the human world. The company is headquartered in Santa Clara, California, with operations worldwide. Learn more at: www.realsenseai.com

Media Contact
Emily Roberts
Bospar for RealSense
PRforRealSense@bospar.com

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Apryse Announces Strategic Transactions

Thomabravo

Acquisitions of Scanbot SDK and Accusoft Expand Platform and Document Processing Capabilities

Completes Strategic Refinancing to Support Continued Long-Term Growth

DENVER—Apryse, the global leader in digital document processing technology, today announced the completion of two strategic transactions that significantly expand its platform, deepen its capabilities, and position the company for continued long-term growth.

Apryse has acquired Scanbot SDK, a mobile-first provider of high-performance data capture solutions for barcode scanning, document scanning and optical character recognition (OCR). Scanbot SDK enables customers to capture and process information seamlessly from mobile devices at the edge, with strong adoption in the logistics, healthcare, transportation and public sectors.

Apryse has also acquired Accusoft, a long-standing provider of imaging and document solutions known for its expertise in high-performance image manipulation, barcode recognition and form field extraction. Accusoft has strong customer relationships in critical and document-reliant industries including healthcare, government, insurance and finance.

These complementary acquisitions expand Apryse’s capabilities for developers integrating imaging and document capture into their applications and enable Apryse to deliver a unified suite of tools covering the full document lifecycle—from capture and extraction to collaboration, rendering and archival.

“We’re thrilled to join forces with Apryse,” said Christoph Wagner, CEO of Scanbot SDK. “Their worldclass platform and reach will help us scale our mission of transforming manual processes into seamless mobile workflows. This is a win for both our team and our customers.”

“This next chapter gives our team and customers the chance to be part of a broader strategy that’s shaping the future of how documents are handled worldwide,” said Jack Berlin, CEO of Accusoft. “It’s an exciting step for our technology and we are excited to become part of the Apryse platform.”

In conjunction with these acquisitions, Apryse has also completed a strategic refinancing of its debt, strengthening its balance sheet and improving its flexibility to pursue future growth opportunities. The refinancing and the support received from Thoma Bravo and Silversmith Capital Partners reflects Apryse’s continued growth and strong financial performance as well as its attractive long-term potential.

“Scanbot SDK and Accusoft are exceptional additions to Apryse, and we are delighted to welcome them,” said Cassidy Smirnow, CEO of Apryse. “Both platforms bring complementary technologies, valuable expertise, enterprise-grade reliability and impressive customer bases. With Thoma Bravo and Silversmith’s support, we will continue to scale our platform and be more agile in pursuit of our ambitious growth targets.”

About Apryse

Apryse, previously known as PDFTron, is a global leader in document processing technology that makes work better and life simpler. Apryse gives developers, enterprise customers, and small businesses the tools to reach their document goals faster and more easily. Apryse technology works with all major platforms and a wide variety of unique file types. For more information, visit Apryse.com.

Read the release on PR Newswire here.

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Rehlko Expands Data Center Back-Up Power Offering With Acquisition of the Wilmott Group

Platinum

Acquisition Strengthens Position in Data Centers & Mission-Critical Segments

MILWAUKEE, Wis. – July 10, 2025 – Rehlko, a global leader in energy resilience, announced today it has reached a tentative agreement to acquire The Wilmott Group, a premier supplier of critical back-up power solutions in the United Kingdom. This acquisition establishes Rehlko as one of the leading energy resilience providers in the U.K. and strengthens the company’s position as a global leader in delivering energy solutions critical to sustaining and improving life. The Wilmott Group will operate as part of Rehlko’s Europe, Middle East, and Africa (EMEA) business – a global leader in backup power solutions for the most critical applications.

The Wilmott Group’s comprehensive capabilities in design, testing, installation and service will strengthen and support the acceleration of Rehlko’s core and aftermarket service offerings.  This acquisition will also deliver manufacturing and engineering efficiencies to support the strategic expansion of Rehlko’s data center position across EMEA.

“The addition of WBPS expands Rehlko’s data center capabilities and service offerings across EMEA, enhances vertical integration in enclosure manufacturing, and strengthens relationships with key European customers.”

Jacob Kotzubei, Co-President and Matthew Louie, Managing Director, Platinum Equity

“The Wilmott Group’s dedication to creating long-term value with customers strongly complements Rehlko’s commitment to delivering innovative and reliable energy solutions,” said Brian Melka, President and Chief Executive Officer of Rehlko. “In this new chapter for Rehlko, The Wilmott Group’s long history of success will bolster our data center solutions across the U.K. and the rest of Europe.”

The Willmott Group includes critical power specialist WB Power Services (WBPS) as well as power and industrial acoustic product manufacturer, Wiltech Acoustics.

Backed by Rehlko’s expansive organization, WBPS’ project engineering team will enhance collaboration across data center projects—a key focus of this partnership—while strengthening Rehlko’s position in the data center space across EMEA. Rehlko will also leverage Wiltech’s in-house enclosure manufacturing capabilities to reduce production time and enable greater flexibility in meeting customer needs and market demand.

Rehlko was acquired by Platinum Equity in 2024. Since its establishment as an independent company, Rehlko has continued to provide control, resilience and innovation through a comprehensive range of energy solutions. The Wilmott Group’s 19 locations across the U.K. and support at more than 4,000 critical power plants adeptly enhances Rehlko’s positioning as a reliable partner to data centers and other commercial operations across EMEA.

“The addition of WBPS expands Rehlko’s data center capabilities and service offerings across EMEA, enhances vertical integration in enclosure manufacturing, and strengthens relationships with key European customers,” said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. “The acquisition also represents another significant milestone in our commitment to investing in Rehlko’s growth, both organically and through strategic acquisitions. We look forward to partnering with the company to pursue additional opportunities to grow the business across its verticals.”

Andy Wilmott, Co-CEO and Chairman of Wilmott Group, shared “We’re thrilled to be joining forces with the Rehlko team. Combining our shared capabilities will enable us to continue delivering reliable, trusted back-up power solutions to data centers, hospitals, schools, and other critical infrastructure across the United Kingdom, Europe, the Middle East and Africa. Together, we also will realize operational improvements and organizational efficiencies.”

About Rehlko

A global leader in energy resilience, Rehlko delivers innovative energy solutions that sustain and improve life across home energy, industrial energy systems, and powertrain technologies with control, resilience, and innovation. Leveraging the strength of its portfolio of businesses— Power Systems, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Curtis Instruments, and Engines—and its more than a century of industry leadership, Rehlko provides power where and when the grid cannot. Rehlko goes beyond function and individual recovery to create better lives, communities, and a more durable and energy-resilient future. Learn more at rehlko.com.

About The Wilmott Group

Built on a rich heritage of over 40 years’ experience, The Wilmott Group Ltd brings together WB Power Services (WBPS) and Wiltech Acoustics under one umbrella. Since 1983, family-founded WBPS have delivered critical power solutions, including sales, hire, installation, maintenance, and renewables, across the UK. 2023 witnessed the acquisition of Wiltech Acoustics, specialists in engineered noise control acoustic systems that safeguard people, the environment, and equipment in industrial and power environments. This paved the way for the incorporation of The Wilmott Group and greatly enhanced the businesses industry-leading proposition.

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Airalo becomes the first eSIM Unicorn with an investment round of $220m

CVC Capital Partners

Backed by strong global demand, Airalo is scaling its eSIM solutions and infrastructure to power the next generation of travel with borderless mobile access for consumers and businesses alike.

Airalo, the world’s first and largest eSIM provider, today announced a $220m investment led by new investor, CVC. The investment includes new growth capital valuing Airalo at over $1 billion, marking its status as the industry’s first unicorn. Driven by surging global demand, Airalo has continued its rapid expansion and now serves over 20 million travelers across 200+ destinations. With a new app experience and unlimited data plans launching this summer, Airalo is setting a new standard for global connectivity. Airalo’s mobile app empowers travellers to instantly get the highest quality roaming experience when abroad, at prices that are a fraction of what they would normally pay.

As millions of users rely on Airalo to stay connected abroad, the company is scaling faster than ever, and this latest funding will further accelerate its growth. The investment includes $185m from lead investor CVC (through its CVC Asia Fund VI), with participation from existing investors Peak XV and Antler Elevate. This new capital will fuel the continual improvement of the customer experience, including enhanced user support, new products and better value for money. Airalo will also use its industry-leading platform to provide connectivity to companies, both for the needs of their employees and their customers.

“This funding is a major milestone, not just for Airalo, but for the future of global connectivity,” said Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo. “This raise allows us to drive innovation across every part of the user journey by delivering more flexible plans and a faster, more seamless experience. We’re not just enabling better eSIM solutions for travel – we’re building the infrastructure for the next generation of international mobile connectivity.”

Quotes

Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.

Siddharth PatelManaging Partner at CVC

“We are thrilled to partner with Airalo — the clear category leader in travel eSIMs and a pioneer in redefining how travelers connect worldwide,” said Siddharth Patel, Managing Partner at CVC. “The digital travel eSIM market, whilst already worth US$1 billion, is at the very early stages of becoming the main method by which consumers can receive the highest quality experience abroad, at a much lower price than they pay for roaming today.  Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.”

Airalo continues to expand its connectivity offerings to provide a full suite of options for every traveler. Starting in July, the company will offer the market’s most extensive range of eSIM data bundles, whether it’s for business or pleasure—ranging from 1 GB plans ideal for quick trips and layovers to 30-day unlimited data bundles for travelers with heavier data needs. Additionally, Airalo is introducing dedicated data, text, and voice packages in select destinations to allow users to truly “connect like a local.” Beyond these new packages, Airalo will soon roll out a new in-app experience across web, iOS, and Android to further improve the user journey.

The company is also scaling its enterprise platform to meet rising demand from businesses and partners. Airalo for Business provides companies with a streamlined platform to manage global connectivity for their teams—helping them assign eSIMs, control budgets, and reduce roaming costs by up to 90%. For partners, Airalo’s White Label solution makes it easy to launch a fully branded eSIM store in minutes, unlocking new revenue opportunities with minimal effort. Airalo also offers API integrations, reseller tools, and voucher programs to enable any partner to offer travel connectivity to its users. These offerings, along with a new eSIM capability launching soon, reflect Airalo’s commitment to building the infrastructure that powers modern, mobile-first businesses everywhere.

To learn more about Airalo and how it is helping travelers stay connected, visit www.airalo.com. For more information on Airalo’s business solutions, visit www.partners.airalo.com.

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L&G and Blackstone Announce Strategic Partnership to Accelerate Growth Ambitions

Blackstone

LONDON, UK and NEW YORK, US – 10 July 2025 – Today, Legal & General (L&G, LSE:LGEN) and Blackstone (NYSE:BX) are announcing a long-term strategic partnership that combines the strength of L&G and Blackstone’s respective credit platforms to enhance L&G’s competitive advantage in annuities and bolster its asset management proposition in key geographies and channels.

L&G’s annuities business will leverage Blackstone’s private credit origination platform to access a pipeline of diversified investment-grade assets, predominantly from the US. This partnership will complement L&G’s existing capabilities to gain competitive advantage, enhanced returns, and support its growth ambitions. L&G will invest up to 10% of anticipated annuities new business flows. This will add to the $237 billion in third-party insurance assets Blackstone manages across investment-grade private credit, liquid credit, and other strategies.[1]

Additionally, L&G’s asset management business will develop public/private hybrid credit solutions that combine Blackstone’s leading private credit platform with L&G’s best-in-class active fixed income capabilities. This will accelerate L&G’s ambitions to expand into highly attractive global wealth and wholesale channels.

The partnership combines L&G’s leading positions in pension risk transfer and asset management – comprising a $122.5 billion (£92 billion) annuities book and $1.4 trillion (£1.1 trillion) in assets under management[2] – with the strength and scale of Blackstone’s $465 billion credit platform.

Antonio Simões, Group CEO, L&G said: “Today’s announcement marks another important step in delivering our strategy for focused, sustainable growth and enhanced shareholder returns. Complementing L&G’s own insurance, investment and asset origination capabilities, our partnership with Blackstone will further cement our market leading position in pension risk transfer, and enable us to address growing demand for public-private hybrid investment products. L&G will benefit from a more diverse pipeline of assets for our annuity book, and growth in asset management as we develop more sophisticated investment solutions for clients around the world.”

Jon Gray, President and Chief Operating Officer, Blackstone said: “We’re thrilled to partner with L&G, a world-class firm with strong performance that we have long admired. Blackstone has been a pioneer in bringing the benefits of private markets investing to insurance companies, individuals and institutional investors. Together, our two firms’ unmatched scale and expertise should drive innovative solutions in the private credit market.”

Eric Adler, CEO, Asset Management, L&G said: “In June, we set out our vision as a leading global investor innovating to solve client challenges, using the power of L&G. This partnership brings together the combined strengths of L&G and Blackstone’s respective credit businesses, to offer new, innovative investment solutions and extend our international reach. I am especially energised by the potential of our alliance to advance our proposition in global wealth and wholesale channels, and deepen the capabilities we can draw upon to support our institutional clients.”

Philip Sherrill, Global Head of Insurance, Blackstone said: “We believe this partnership shows the best of what Blackstone can offer to our insurance company clients. The breadth of our capabilities allows us to support our partners across their businesses – originating assets, working together to identify investment opportunities, and designing products that meet the needs of both institutional clients and individual investors.”

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.

About L&G
Established in 1836, L&G is one of the UK’s leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Blackstone’s current views with respect to, among other things, its operations, taxes, earnings and financial performance and the strategic partnership referred to herein. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “scheduled,” “estimates,” “anticipates,” “opportunity,” “leads,” “forecast,” “possible” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in its periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in its other periodic filings. The forward-looking statements speak only as of the date of this release, and Blackstone undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

FURTHER INFORMATION:

Blackstone
Felix Lettau
Felix.Lettau@blackstone.com
+44 20 7104 4562

L&G
Sneha Patel
sneha.patel@group.landg.com
+44 75536 04804

Headland Consultancy
Lucy Legh
landg@headlandconsultancy.com

[1] As of March 31, 2025
[2] FX conversion rate as at YE 2024

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Arclight to acquire Middletown Energy Center

Arclight

Acquisition of Highly Efficient PJM Power Infrastructure Asset

Well Positioned to Support AI-driven Power Demand in Ohio

BOSTON, July 10, 2025 /PRNewswire/ — ArcLight Capital Partners, LLC (together with its affiliates, “ArcLight”) announced today that it has entered into definitive agreements to acquire 100 percent of the economic interests in Middletown Energy Center (“Middletown“), a top quartile, highly efficient 484 MW natural gas fired power generation asset located in Butler County, Ohio. ArcLight is acquiring Middletown through a series of transactions from a consortium of sellers.

The transaction is ArcLight’s most recent investment in power infrastructure, a sector it has been investing in since the firm’s inception in 2001. Since then, ArcLight has made over 50 power infrastructure investments, representing one of the most extensive and longest track records in the power infrastructure sector in North America.

Middletown, which commenced operations in 2018, is one of the newest natural gas combined cycle power plants in PJM, with access to advantaged gas supply. Middletown provides reliable and dispatchable power to the PJM market, the largest wholesale electricity market in the U.S.  The asset has a strong historical operating track record and is located in a market with material demand tailwinds from AI and data center related power demand.

“With increasing demand for digital infrastructure, Ohio has emerged as a premier hub for data centers and Middletown Energy Center, with ArcLight’s stewardship, stands ready to meet the substantial electric infrastructure needs of this vital sector,” said Angelo Acconcia, Partner at ArcLight. “This acquisition is the latest example of ArcLight’s value-add electric infrastructure investing strategy which includes power, renewables, battery storage, transmission, natural gas transmission and storage, and digital power.”

“We expect Middletown to play an increasingly critical role in providing reliable and affordable power to a market that is experiencing a rapid expansion of data center-driven demand growth,” said Andrew Brannan, Managing Director at ArcLight. “Reliable and efficient power generation is essential to ensuring continued industrial and data-center related investment in the region, and highly efficient resources such as Middletown are vital to these initiatives.”

Since 2001, ArcLight has owned, controlled, or operated over 65 GW of assets and 47,000 miles of electric and gas transmission infrastructure, with over $80 billion of enterprise value. With its deep industry experience and suite of internal operational and technical resources, ArcLight believes it is well positioned to deliver the innovative and customized electric infrastructure solutions required by AI and data center power demand. Today, ArcLight manages the largest private power infrastructure portfolio in North America.

Financial terms of the private transaction were not disclosed. The transaction is expected to close in 2025, subject to regulatory approvals. Latham & Watkins LLP is serving as legal counsel to ArcLight.

About ArcLight
ArcLight is a leading infrastructure investor which has been investing in critical electrification infrastructure since its founding in 2001.  ArcLight has owned, controlled or operated over 65 GW of assets and 47,000 miles of electric and gas transmission and storage infrastructure representing $80 billion of enterprise value.  ArcLight has a long and proven track record of value-added investing across its core investment sectors including power, hydro, solar, wind, battery storage, electric transmission and natural gas transmission and storage infrastructure to support the growing need for power, reliability, security, and sustainability.  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 ~2,000-person asset management partner. For more information, please visit www.arclight.com. References to “ArcLight” herein refers to ArcLight Capital Partners, LLC and/or its managed investment vehicles, as the context requires.

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Rehlko Expands Data Center Back-Up Power Offering With Acquisition of The Wilmott Group

Platinum

Acquisition Strengthens Position in Data Centers & Mission-Critical Segments

MILWAUKEE, Wis. – July 10, 2025 – Rehlko, a global leader in energy resilience, announced today it has reached a tentative agreement to acquire The Wilmott Group, a premier supplier of critical back-up power solutions in the United Kingdom. This acquisition establishes Rehlko as one of the leading energy resilience providers in the U.K. and strengthens the company’s position as a global leader in delivering energy solutions critical to sustaining and improving life. The Wilmott Group will operate as part of Rehlko’s Europe, Middle East, and Africa (EMEA) business – a global leader in backup power solutions for the most critical applications.

The Wilmott Group’s comprehensive capabilities in design, testing, installation and service will strengthen and support the acceleration of Rehlko’s core and aftermarket service offerings.  This acquisition will also deliver manufacturing and engineering efficiencies to support the strategic expansion of Rehlko’s data center position across EMEA.

“The addition of WBPS expands Rehlko’s data center capabilities and service offerings across EMEA, enhances vertical integration in enclosure manufacturing, and strengthens relationships with key European customers.”

Jacob Kotzubei, Co-President and Matthew Louie, Managing Director, Platinum Equity

“The Wilmott Group’s dedication to creating long-term value with customers strongly complements Rehlko’s commitment to delivering innovative and reliable energy solutions,” said Brian Melka, President and Chief Executive Officer of Rehlko. “In this new chapter for Rehlko, The Wilmott Group’s long history of success will bolster our data center solutions across the U.K. and the rest of Europe.”

The Willmott Group includes critical power specialist WB Power Services (WBPS) as well as power and industrial acoustic product manufacturer, Wiltech Acoustics.

Backed by Rehlko’s expansive organization, WBPS’ project engineering team will enhance collaboration across data center projects—a key focus of this partnership—while strengthening Rehlko’s position in the data center space across EMEA. Rehlko will also leverage Wiltech’s in-house enclosure manufacturing capabilities to reduce production time and enable greater flexibility in meeting customer needs and market demand.

Rehlko was acquired by Platinum Equity in 2024. Since its establishment as an independent company, Rehlko has continued to provide control, resilience and innovation through a comprehensive range of energy solutions. The Wilmott Group’s 19 locations across the U.K. and support at more than 4,000 critical power plants adeptly enhances Rehlko’s positioning as a reliable partner to data centers and other commercial operations across EMEA.

“The addition of WBPS expands Rehlko’s data center capabilities and service offerings across EMEA, enhances vertical integration in enclosure manufacturing, and strengthens relationships with key European customers,” said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. “The acquisition also represents another significant milestone in our commitment to investing in Rehlko’s growth, both organically and through strategic acquisitions. We look forward to partnering with the company to pursue additional opportunities to grow the business across its verticals.”

Andy Wilmott, Co-CEO and Chairman of Wilmott Group, shared “We’re thrilled to be joining forces with the Rehlko team. Combining our shared capabilities will enable us to continue delivering reliable, trusted back-up power solutions to data centers, hospitals, schools, and other critical infrastructure across the United Kingdom, Europe, the Middle East and Africa. Together, we also will realize operational improvements and organizational efficiencies.”

About Rehlko

A global leader in energy resilience, Rehlko delivers innovative energy solutions that sustain and improve life across home energy, industrial energy systems, and powertrain technologies with control, resilience, and innovation. Leveraging the strength of its portfolio of businesses— Power Systems, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Curtis Instruments, and Engines—and its more than a century of industry leadership, Rehlko provides power where and when the grid cannot. Rehlko goes beyond function and individual recovery to create better lives, communities, and a more durable and energy-resilient future. Learn more at rehlko.com.

About The Wilmott Group

Built on a rich heritage of over 40 years’ experience, The Wilmott Group Ltd brings together WB Power Services (WBPS) and Wiltech Acoustics under one umbrella. Since 1983, family-founded WBPS have delivered critical power solutions, including sales, hire, installation, maintenance, and renewables, across the UK. 2023 witnessed the acquisition of Wiltech Acoustics, specialists in engineered noise control acoustic systems that safeguard people, the environment, and equipment in industrial and power environments. This paved the way for the incorporation of The Wilmott Group and greatly enhanced the businesses industry-leading proposition.

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Soleno Therapeutics Announces Proposed $200 Million Public Offering of Common Stock

Abingworth

REDWOOD CITY, Calif., July 10, 2025 (GLOBE NEWSWIRE) — Soleno Therapeutics, Inc. (Soleno) (Nasdaq:SLNO), a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, announced today that it intends to offer and sell $200 million of shares of its common stock in an underwritten public offering. In addition, Soleno intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares of common stock. The proposed public offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC and Guggenheim Securities are acting as the joint book-running managers for the proposed public offering.

Soleno intends to use the net proceeds from this offering to fund the commercialization of VYKAT™ XR, the first approved therapy to address hyperphagia in individuals with Prader-Willi syndrome, which was approved by the U.S. Food and Drug Administration on March 26, 2025. Soleno also intends to use the proceeds from the public offering to fund its regulatory and market development activities in the European Union and further research and development efforts, as well as general corporate purposes, which may include working capital, capital expenditures, other clinical trials, other corporate expenses and acquisitions of complementary products, technologies or businesses, though the company does not have agreements or commitments for any specific acquisitions at this time.

The shares will be offered pursuant to a registration statement on Form S-3ASR (File No. 333-276344) previously filed with, and automatically declared effective by, the Securities and Exchange Commission (the “SEC”) on January 2, 2024. The offering is being made solely by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at www.sec.gov. The final terms of the public offering will be disclosed in a final prospectus supplement and accompanying prospectus relating to the offering that will be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Soleno Therapeutics, Inc.

Soleno is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company’s first commercial product, VYKAT XR (diazoxide choline) extended-release tablets, formerly known as DCCR, is a once-daily oral treatment for hyperphagia in adults and children 4 years of age and older with Prader-Willi syndrome.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding Soleno’s expectations on the completion, timing and size of the proposed public offering, Soleno’s intention to grant the underwriters a 30-day option to purchase additional shares, the anticipated use of proceeds therefrom, and all other statements that are not statements of historical facts. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as risks and uncertainties inherent in Soleno’s business, including those described in Soleno’s Annual Report on Form 10-K for the year ended December 31, 2024, Soleno’s Quarterly Report on Form 10-Q for the three month period ended March 31, 2025, prior press releases and in other filings and reports filed with the SEC. The events and circumstances reflected in Soleno’s forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, Soleno does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Corporate Contact:

Brian Ritchie
LifeSci Advisors, LLC
212-915-2578

Media Contact:
media@soleno.life


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Source: Soleno Therapeutics

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Renasant Bio, chasing drugs for ADPKD, raises $55M in seed funding

Atlas Venture

The biotech is taking inspiration from cystic fibrosis treatment and applying a similar approach to developing “corrector” and “potentiator” medicines for the kidney disease.

Renasant Bio researchers work in the biotech's lab.

The drug industry’s efforts to develop a treatment for a rare kidney condition known in shorthand as ADPKD have come in fits and starts.

People with ADPKD, or autosomal dominant polycystic kidney disease, can use an Otsuka drug, Jynarque, that U.S. regulators cleared in 2018 to slow the decline in organ function that’s brought on by the condition.

They have few other good options, however. Sanofi was developing a drug, venglustat, around the same time as Jynarque’s approval, but stopped clinical testing in 2021 after negative study results.

The disease stayed on some drugmaker’s radars. In April, Novartis agreed to pay $800 million to acquire Regulus Therapeutics and an experimental therapy, farabursen, that the Swiss pharmaceutical company said showed “promising clinical efficacy and safety.” And a new biotechnology company launching Thursday is trying its hand at developing another.

Called Renasant Bio, the company raised $54.5 million in seed financing from blue-chip investors 5AM Ventures, Atlas Venture, OrbiMed and Qiming Venture Partners USA.

Renasant is the brainchild of a pair of University of California, San Francisco professors, Jeremy Reiter and Markus Delling, who sent 5AM a cold email in 2022 with a pitch built from their research into the disease’s biology. It’s now headed up by Emily Conley, a Stanford University scientist who previously led Federation Bio, a gut microbiome biotech, and oversaw business development at the genetic testing company 23AndMe.

Renasant draws inspiration from drug development in cystic fibrosis. While cystic fibrosis is a disease of the lungs, both conditions are linked to malformed ion channels. As in cystic fibrosis, where drugs like Vertex Pharmaceuticals’ Trikafta work by correcting and boosting the activity of those channel proteins, Renasant believes it can develop “corrector” and “potentiator” treatments that restore and open up the channels relevant to ADPKD.

“What a corrector does is it helps that misfolded protein fold properly,” said Conley. “Once the protein gets into the right shape, then it can go where it needs to go, and then the potentiator holds the channel open.”

“We know what’s broken,” Conley added. “If we can fix it with correctors and potentiators, then we could have this very dramatic effect on patient outcomes.”

Renasant’s lead drug candidate, which is currently in preclinical testing, is a small molecule corrector the company hopes can work in patients with any of the wide range of mutations that cause ADPKD. While Renasant envisions this molecule working as a standalone treatment, it’s also developing a potentiator that could be used in tandem to prevent cysts from forming or growing in the kidney.

The company plans to enter clinical testing in the next few years.

Overseeing Renasant’s scientific work is Gus Gustafson, a veteran of large pharmaceutical firms like Johnson & Johnson and Merck & Co. Its board of directors is led by Natalie Holles, the former CEO of Third Harmonic Bio, and includes Charlotte McKee, chief medical officer of cystic fibrosis drugmaker Sionna Therapeutics, as well as venture investors.

“Renasant has assembled the right team, with years of research experience in polycystic disease that has informed the right scientific approach,” Deborah Palestrant, a partner at 5AM, which incubated the biotech, said in a statement.

Renasant estimates that some 12 million people have ADPKD worldwide. In addition to Novartis and Regulus, Vertex is also developing a drug for the disease.

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