Tag Archives: Energy

Carlyle to acquire Altera Infrastructure Group’s FPSO business

Carlyle

London and Aberdeen, UK – 01 September 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to acquire a diversified FPSO (Floating Production, Storage and Offloading) business from Altera Infrastructure Group, a leading offshore energy infrastructure company owned by Brookfield Asset Management’s private equity business. The transaction is subject to customary closing conditions and regulatory approvals.

The acquired business includes ownership of multiple FPSOs and one FSO (Floating Storage and Offloading), which are underpinned by long-term contracts with major oil and gas companies. The portfolio includes the Petrojarl Kong FPSO and FSO Yamoussoukro, deployed in the Ivory Coast with Eni, which represents the first net zero emission upstream project (Scope 1 and 2) in Africa, the Piranema FPSO, as well as 50% of the Altera&Ocyan joint-venture asset Pioneiro de Libra FPSO, deployed in Brazil with Petrobras. Additionally, the business benefits from a strong pipeline of future growth and redeployment opportunities.

Carlyle’s investment will support the Altera FPSO business through its sector-specific investment team and available follow-on equity capital for accretive growth and M&A, building on the company’s track record in redeployments.

Equity for the transaction will come from Carlyle International Energy Partners II (“CIEP II”), a private equity fund that focuses on energy opportunities globally. Carlyle will leverage its strong track record and experience in successful carve-outs of energy assets, following previous investments in Neptune Energy, Assala Energy and SierraCol.

Bob Maguire, Co-Head of CIEP, said: “This is a rare opportunity to acquire an established and high-quality FPSO business with a strong management team, operating track record and long-term cashflows. This portfolio benefits from long-term contracts, strong FPSO market fundamentals, and exposure to world-class operators which position it well for success.”

Bendik Dahle, Managing Director on the CIEP investment team, said: “We are delighted to partner with Altera FPSO to further build out the business’ scale and operations. We look forward to working closely with their strong management team to support the business in becoming a leading FPSO player globally through unlocking organic growth opportunities, M&A, partnering with operators on the delivery of their flagship upstream projects and supporting their decarbonization plans.”

Chris Brett, President at Altera Production, and Arne Hygen Tørnkvist, Executive Vice President – Projects, said: “Partnering with Carlyle marks an important step forward in our journey. Carlyle’s deep sector expertise and global network in the energy space, combined with its scale and resources, will allow us to further optimize the long-term performance of our assets, identify efficiencies across the portfolio and execute on growth initiatives to scale the business. We are excited to partner with Carlyle and look forward to delivering for our clients in a rapidly evolving energy landscape.”

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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 Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, 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 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

About Altera Infrastructure Group

Altera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and West Africa.

Altera Infrastructure has consolidated assets of approximately $3 billion, consisting of offshore assets: floating production, storage and offloading (FPSO) units and floating storage and offtake (FSO) units. An additional three offshore units are managed through a joint venture. The majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts.

Media Contacts

Charlie Bristow
Carlyle
Charlie.Bristow@carlyle.com
+44 7384 513568

Maria Sjöstrand Blücher 
Altera Infrastructure
Media@alterainfra.com
+47 907 14 884

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Endeit Capital Leads €12.5M Investment in Deftpower to Accelerate Europe’s Smart Charging Future

Endeit

Deftpower

Investment round led by Endeit Capital with participation from Proeza Ventures, 4impact Capital, Rethink Mobility, and business angel Jan Fredriks.

Arnhem, Friday 29th 2025 — Deftpower, the fast-growing European provider of AI-powered electric vehicle charging solutions, has raised €12.5 million in a round led by Endeit Capital. Existing investors Proeza Ventures, 4impact Capital, Rethink Mobility, and business angel Jan Fredriks are participating in the round. The funding will accelerate Deftpower’s European expansion and further develop its AI-driven smart charging technology.

Smart charging for a cleaner, more stable grid

Deftpower’s mission is clear: make EV charging cheaper, cleaner, and smarter for EV drivers and charge point operators, while easing pressure on Europe’s congested power grids.

Unlike other EV charging platforms, its scalable infrastructure can handle millions of transactions transparently and efficiently, cutting operational costs and reducing customer frustration.

Deftpower’s AI-driven smart charging gives it a unique advantage: the platform can anticipate charging needs even before an EV is plugged in. By shifting charging to times when renewable energy is abundant and prices are low, customers save money while Co2 emissions and grid strains are reduced. Two-thirds of charging can potentially be moved from peak to off-peak hours, an essential step in building a resilient, renewable-based energy system. 

Strengthening the highly burdened grids

Europe’s grids face unprecedented congestion, costing society hundreds of billions in lost economic activity and forced grid upgrades. Building more grid infrastructure alone cannot keep pace with rising demand from electrification. Deftpower tackles the problem at its source: by adjusting demand to match renewable energy production instead of the outdated approach of ramping production to meet demand.

When using Deftpower’s platform, two-thirds of charging potentially shifts from peak to off-peak hours, easing strain on grid infrastructure and maximizing the use of clean, low-cost electricity. This is a win for consumers, energy providers, and grid operators alike.

Proven scale and growth

Deftpower’s white-label eMobility Service Provider (eMSP) already serves more than 40 clients across 10 European countries. Designed to handle millions of transactions with full transparency, it supports the industry’s next stage: seamless smart charging and readiness for vehicle-to-grid (V2G) technology.

Despite employing just 70 people, Deftpower has been growing fast since the start.

Collaboration between Endeit Capital and Deftpower

Endeit has been investing for more than 20 years in the best founding teams in Europe. Endeit recognises Deftpower as the most innovative and ambitious scale-up in the European EV market. 

Endeit Capital’s perspective: “As a lead investor, we see Deftpower as uniquely positioned to be the backbone of Europe’s EV charging future, one where cost savings, carbon reduction, and grid stability go hand in hand. Their AI-driven approach is exactly what the energy transition needs at scale.” – Sara Resvik, Partner Endeit Capital. 

“As a lead investor, we see Deftpower as uniquely positioned to be the backbone of Europe’s EV charging future.”

Sara Resvik, Partner
Partner Endeit Capital. 

“We know charging your EV is both too expensive and too complicated today and the aggregator role we foresee for the MSP will tie the room together as it should. All players, including EV drivers, charge point operators and grid operators benefit financially from Deftpower’s charging platform,” says Deftpower CEO Jacob van Zonneveld.

About Deftpower

Deftpower is an Arnhem and Berlin-based technology company, founded by Jacob van Zonneveld, Marc Diks, and Remco Tjeerdsma. Deftpower is building the most advanced AI-powered charging platform for electric vehicles in Europe. Through white-label solutions for eMobility Service Providers, Deftpower enables millions of EVs to charge at the best times for consumers, the environment, and the grid. www.deftpower.com.

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EQT completes sale of common stock of Kodiak Gas Services

eqt
  • The sale resulted in aggregate gross proceeds of c. USD50 million

Frontier TopCo Partnership, L.P. (the “Selling Stockholder”), an affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV, is pleased to announce the completion of the sale (the “Sale”) of c. 1.5 million shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the “Company”), which were repurchased by the Company in a privately negotiated transaction under its previously announced share repurchase program. The Sale resulted in aggregate gross proceeds of c. USD50 million for the Selling Stockholder. The Sale was made on August 11, 2025. Following this transaction, the Selling Stockholder now holds c. 29.8 million shares of the Company’s common stock.

Contact

EQT Press Office, press@eqtpartners.com

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About EQT

EQT is a purpose-driven global investment organization with €266 billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, 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 Kodiak

Kodiak is a leading contract compression services provider in the United States, serving as a critical link in the infrastructure that enables the safe and reliable production and transportation of natural gas and oil. Headquartered in The Woodlands, Texas, Kodiak provides contract compression and related services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi-well gas lift applications and natural gas transmission systems.

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Apollo Funds to Acquire Kelvion, a Leading Global Provider of Heat Exchange & Cooling Solutions

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Apollo logo

Triton to retain minority interest in Kelvion

LONDON and HERNE, Germany, Aug. 13, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds (“Apollo Funds”) have agreed to acquire a majority stake in Kelvion (or the “Company”), a leading global provider of energy efficient heat exchange and cooling solutions, from funds advised by Triton (“Triton”). Triton will maintain a minority interest in Kelvion.

Founded and headquartered in Germany for over a century, Kelvion has established itself as a premier provider of thermal management solutions across a broad spectrum of industrial and high-growth end markets. Today, Kelvion is a leader in advanced cooling technologies for data centers, the Company’s largest and fastest-growing segment. It also plays an enabling role in several key energy transition markets, including carbon capture, hydrogen, electrification, renewables, and heat pumps, delivering highly reliable and sustainable solutions to customers around the globe.

Kelvion operates an extensive global footprint with sites across the Americas, EMEA, and APAC. Triton acquired and rebranded the company in 2014 (formerly GEA Heat Exchanger Group). Since then, Kelvion has undergone a significant transformation, shifting its portfolio and strategic focus toward secular megatrends in High Tech and Green Tech, while driving operational excellence and expanding its global customer base.

Waleed Elgohary, Partner, Apollo, said, “Kelvion has established itself as a premier provider of energy efficient solutions, with a global footprint and leading customer base. The Company is well positioned to meet the demand of several very large secular tailwinds, including AI & cloud revolution, energy transition, and reindustrialization. We are thrilled to have the opportunity to support the Company’s growth in this next phase in partnership with the Triton, Andy and the rest of the management team.”

Andy Blandford, CEO of Kelvion, said: “We thank Triton for their support and the good collaboration throughout the years. Today, Kelvion stands stronger than ever, delivering cutting-edge solutions across high-growth markets that matter most for the future of industry and the planet. We are thrilled to welcome Apollo Funds as our new majority investor. Their deep expertise in both clean energy and industrial technology, along with their global network and long-term mindset, makes them an ideal partner. Backed by the combined strength of Apollo and Triton, we are poised to accelerate our growth trajectory, continue investing in innovation and talent, and further solidify our position as a global leader in energy-efficient thermal solutions.”

Apollo Partners Claudia Scarico and Jeremy Honeth added, “We have followed the Kelvion business for several years, and Andy and the management team have done a terrific job transforming the business into a leading solutions provider serving highly technical end markets that we believe should continue to benefit from multiple secular megatrends. We are excited by its growth plans and look forward to supporting Kelvion in partnership with Triton.”

Claus von Hermann, Fund Managing Partner, Head of DACH and Co-Head of Industrial Tech at Triton, said: “We thank Andy, the further management team and all employees of Kelvion for their hard work, commitment and collaboration over the years. Together, they have driven a remarkable transformation, positioning the company at the forefront of global industrial innovation. We believe that Apollo is the perfect new partner for the company providing avenues to new growth and we look forward to supporting both the management and Apollo team in that.”

Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $58 billion1 of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close between Q4 2025 and Q1 2026.

UBS AG, J.P. Morgan Securities plc and Barclays Bank PLC (acting through its investment bank) served as financial advisors to the Apollo Funds, while Sidley Austin LLP served as legal counsel on the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in connection with the financing of the transaction.

Guggenheim Securities, LLC and Morgan Stanley & Co. International plc acted as financial advisors to Triton while Kirkland & Ellis served as legal advisors.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had $840 billion of assets under management. To learn more, please visit www.apollo.com.

About Kelvion

Kelvion is a leading global developer and manufacturer of heat exchange solutions. Renowned for its commitment to innovation and sustainability, the company delivers cutting-edge thermal management solutions that empower customers to ensure reliable and efficient operations. Kelvion’s extensive portfolio serves a wide range of applications such as data centres, hydrogen production, heat pumps, marine, HVAC, refrigeration and the food and beverage industry. The company’s global sales, service and production network ensures that Kelvion is always available to support customers wherever they are. Whether supporting site installation, providing on-site technical service or replacement parts – Kelvion’s comprehensive range of service offerings is designed to optimise performance and extend the product lifecycle to ensure sustainability and reliability.

About Triton

Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit
For further information: www.triton-partners.com

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com / EuropeanMedia@apollo.com

Triton Contact
Anja Schlenstedt
media@triton-partners.com

Kelvion Contact
Karin Pyc
Head of Communications
karin.pyc@kelvion.com

_______________________________
1 As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030. The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

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Hubbell to Acquire DMC Power

Golden Gate Capital

Shelton, CT (GLOBE NEWSWIRE) —

• Provider of connectors and tooling for utility substation and transmission markets
• Complementary technology enhances Hubbell’s Utility Solutions portfolio
• Attractive growth and margin profile aligned to megatrends in load growth, datacenter interconnection and aging infrastructure
• $825 million transaction to be financed with cash and debt; anticipate adjusted EPS accretion in 2026

Hubbell Incorporated (NYSE: HUBB) today announced it has entered into a definitive agreement to acquire DMC Power, LLC, a portfolio company of Golden Gate Capital and a provider of connectors and tooling for utility substation and transmission markets, for $825 million in cash, subject to customary adjustments.

“We are excited to add another high growth, high margin business to Hubbell’s Utility Solutions portfolio,” said Gerben Bakker, Chairman, President and CEO. “As load growth, datacenter buildouts and aging infrastructure drive highly visible utility substation and transmission investment over the next several years, the acquisition of DMC Power expands Hubbell’s strong presence in these attractive markets.”

Greg Gumbs, President of Hubbell Utility Solutions, added, “DMC Power’s swage connection system offers a strong complement to our existing substation and transmission connector solutions. This acquisition will deepen and broaden Hubbell’s technology offering with our core customers, enabling fast, reliable buildout of substation infrastructure and datacenter interconnections while further accelerating our near and long-term growth profile.”

Javier Puig, a Managing Director at Golden Gate Capital, said, “We are thrilled with this outcome and the significant progress that DMC made as an electrical connectivity provider since our investment in 2023. During Golden Gate Capital’s ownership period, DMC experienced rapid organic growth, reflecting the company’s investments in expanded facilities and new machines, the development of innovative new products, and expansion into new market segments. We are proud to have supported Tony and the DMC team, and wish the company well in its next chapter with Hubbell.”

Tony Ward, Chief Executive Officer at DMC Power, said, “I want to extend my thanks to our dedicated employees and customers whose commitment has driven DMC’s success. As the pioneers behind swage technology for utilities, we are proud to have developed a world-class solution that is transforming the industry. By joining forces with Hubbell, we are confident that swage will accelerate its industry adoption and that our customers will continue to receive the high-quality service and solutions they have come to expect from DMC.”

DMC Power is a designer and manufacturer of connector technology systems for high voltage power infrastructure with over 350 employees and two manufacturing facilities in Carson, CA and Olive Branch, MS, along with multiple distribution facilities located across North America. DMC Power anticipates 2026 revenue of approximately $130 million and EBITDA of approximately $60 million.

The transaction is anticipated to close by the end of 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. Hubbell plans to finance the transaction with a combination of cash on hand and debt. The company expects the acquisition to be accretive to adjusted EPS in 2026.

Advisors

Stephens Inc. is serving as financial advisor to Hubbell, and Holland & Knight LLP is serving as legal advisor. Harris Williams and Lincoln International are serving as financial advisor to Golden Gate Capital, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor.

About Hubbell

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2024 revenues of $5.6 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.

About DMC Power

DMC Power designs and manufactures the highest quality connection systems for transmission, distribution, substation, and industrial projects. The company’s Swage system, comprised of custom designed Power Connectors and a patented 360° Radial Swage Tool, has helped utilities around the world finish their projects with just the push of a button.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity firm focused on partnering with management teams to build exceptional consumer, industrials, technology, and financial services companies. Since its founding in 2000, the firm has managed approximately $20 billion in cumulative committed capital. For more information, visit http://www.goldengatecap.com.

Contacts:
For Hubbell:
Dan Innamorato
Hubbell Incorporated
40 Waterview Drive
P.O. Box 1000
Shelton, CT 06484
(475) 882-4000

For Golden Gate Capital:
FGS Global
GoldenGate@fgsglobal.com

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Blackstone Announces Agreement to Acquire Enverus

Hellman & Friedman

Blackstone (NYSE: BX) announced today that private equity funds affiliated with Blackstone (“Blackstone”) have entered into a definitive agreement to acquire Enverus, a premier data analytics energy intelligence platform, from Hellman & Friedman and Genstar Capital.

Enverus was founded in 1999 and is a comprehensive data analytics platform empowering its customers’ capital allocation and asset optimization decisions across the entire energy ecosystem. Today, it is the largest and fastest-growing SaaS company and analytics provider dedicated to the energy market. It enables its 8,000 customers across 50 countries with real-time access to analytics, insights, and benchmark data from generative AI and partnerships with more than 95 percent of U.S. energy producers and 40,000 suppliers.

“This is more than a transaction – it’s a launchpad,” said Manuj Nikhanj, CEO of Enverus. “Blackstone shares our conviction that the future of energy will be defined by AI, real-time intelligence, and bold execution. Their global reach and deep expertise across energy, infrastructure, and data-rich industries will accelerate our momentum – helping us scale faster, build smarter, and deliver transformational outcomes for our customers. It is thanks to a strong partnership with H&F that Enverus is the company we are today. I am incredibly proud of what our team has built – especially our breakthrough work in power markets – and more excited than ever for what comes next.”

Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, said: “As the leading energy-dedicated SaaS platform, Enverus’ advanced analytics and technology solutions are critical for its customers as they navigate unprecedented AI-driven electricity demand growth and the broader energy transition. We believe Blackstone’s energy market expertise and network can further enhance the company’s growth trajectory, and look forward to partnering with Manuj and the Enverus team.”

“After four years of tremendous partnership, Enverus stands as the clear SaaS, data, and analytics leader empowering the energy market,” said Ben Farkas, Partner at Hellman & Friedman. “We set out with a mission to build on the company’s core strengths, accelerate innovation, and expand its reach across the energy value chain. Today they are pioneering GenAI-powered solutions, scaling into new markets, and enabling smarter and more efficient decisions for customers worldwide. The company’s growth and culture of innovation have set a new standard for the industry. It’s been a privilege to partner with Manuj Nikhanj, Jeff Hughes, and the full Enverus team. We are confident Enverus is exceptionally well-positioned to shape the future of global energy.”

“Supporting Enverus through this exciting period of innovation and growth has been a great journey,” said Eli Weiss, Managing Partner of Genstar Capital. “We’re proud of the team’s achievements and are confident they are well positioned for continued success.”

Enverus represents the latest in a number of recent transactions Blackstone has announced behind its high-conviction investment themes in electricity demand growth and the ongoing energy transition, such as TXNM Energy, Potomac Energy Center, Sediver, Westwood Professional Services, Trystar, and others. Blackstone’s core private equity strategy, Blackstone Energy Transition Partners, and Blackstone’s private equity strategy for individual investors are each expected to invest in Enverus as part of this transaction.

Terms of the transaction were not disclosed. The transaction is expected to close by the end of the year, subject to customary conditions. Citi and Morgan Stanley & Co. LLC acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Enverus and Hellman & Friedman. RBC Capital Markets served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Enverus
Enverus is the energy industry’s most trusted source for decision intelligence. With petabytes of proprietary data, deep domain expertise, and AI-native technology, Enverus empowers customers to invest smarter, operate more efficiently, and scale faster — across upstream, midstream, minerals, power, and renewables — all while navigating the most complex energy market in history. Learn more at www.enverus.com.

About Hellman & Friedman
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high-quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors, including technology, financial services, healthcare, consumer services & retail, and information, content & business services. Since its founding in 1984, H&F has invested in over 100 companies and has over $115 billion in assets under management as of December 31, 2024. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.

About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 35 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $50 billion of assets under management and targets investments focused on targeted segments of the financial services, software, healthcare, and industrials industries.

MEDIA CONTACTS: 

Blackstone
Matt Anderson
Matthew.Anderson@Blackstone.com
(518) 248-7310

Jennifer Heath
Jennifer.Heath@Blackstone.com
(347) 603-9256

Enverus
Jon Haubert
Jon.Haubert@enverus.com
(303) 396-5996

Hellman & Friedman
Dan Abernethy
Dan.Abernethy@fgsglobal.com
(646) 238-3902

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AURELIUS to acquire FIAMM Energy Technology from Resonac

Aurelius Capital
  • Definitive agreement reached for the acquisition of FIAMM Energy Technology
  • AURELIUS’ latest transaction involving a seller listed in Japan
  • Northern Italy-based FIAMM has generated revenues of €377m in 2024

Milan/Luxembourg, August 1, 2025 – AURELIUS Private Equity Mid-Market Buyout has entered into a definitive agreement for the acquisition of Resonac Corporation’s FIAMM Energy Technology business. Resonac Corporation is a subsidiary of Resonac Holdings Corporation.

The company is a renowned manufacturer of energy storage solutions and advanced battery technologies, with revenues of €377m in 2024. It is a market leader in Italy and has established a strong position across Europe. Headquartered in Vicenza, Northern Italy, the business operates two sites with just over 1,000 employees, serving around 3,000 customers globally.

This acquisition will mark AURELIUS’ latest transaction with a counterparty listed in Japan.

AURELIUS sees untapped growth potential in FIAMM Energy Technology as an important player in the global energy transition: building on the business’ strong brand and strategic positioning in its core markets, AURELIUS’ dedicated in-house operations advisory team AURELIUS WaterRise will support the company with bespoke advice throughout its transformation. AURELIUS WaterRise aims to enhance production quality and product performance, with the intention of improving overall customer satisfaction. AURELIUS anticipates growth opportunities, among others, from infrastructure investments such as data centres. It will support the business in identifying new market potential, expanding its core business and strengthening its global footprint.

Tomomitsu Maoka, CEO of FIAMM Energy Technology, comments: “We are excited about our partnership with AURELIUS, an investor with an established track record of building and growing businesses. This partnership should provide us with the resources and support to accelerate growth and bring cutting-edge energy solutions to markets worldwide.”

Fabian Steger, Managing Director AURELIUS IV and V, says: “FIAMM Energy Technologies is highly suited to leverage AURELIUS’ core strengths: our teams are experienced in conducting complex buyouts and subsequently supporting management teams through bespoke advice along their transformation journeys. Given our expertise in industrials, FIAMM is a great fit for our portfolio, and we look forward to working with the team to drive the business’ growth.”

Massimo Vendramini, Managing Director AURELIUS Investment Advisory Milan, says: “I am very proud that the Milan team could play its part in getting this deal signed. I would like to thank our counterparts at Resonac and all our advisors for making it happen. Given the strength of its market position in Europe, and the momentum behind the energy transition worldwide, I believe FIAMM can look forward to a great future. I am confident that AURELIUS will play its part in supporting that future.”

The transaction is subject to customary closing conditions, including regulatory approvals. Closing is expected in Q4 2025.

AURELIUS was advised by DC Advisory (M&A), Advant NCTM (Legal), Haver & Mailänder (Legal), BCG (Commercial), EY (Financial), EY (Tax), ERM (EHS) and AON (Insurance).

Resonac was advised by Houlihan Lokey (M&A), BonelliErede (Legal), Nishimura & Asahi (Legal), EY (Financial), EY (Tax) and ERM (EHS).

About AURELIUS

AURELIUS is a global private equity investor, distinguished and widely recognised for its operational approach. It focuses on private markets, in particular Private Equity and Private Debt. Its key investment platforms include AURELIUS Opportunities V, AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth Investments (Wachstumskapital). AURELIUS has been growing significantly in recent years, especially expanding its global footprint, and today employs more than 400 professionals in 9 offices spanning Europe and North America.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, and has built a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions.

More info: www.aurelius-group.com

AURELIUS media contact:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7785 722 191

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KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform

KKR

Transaction marks Global Climate Transition strategy’s first investment in Asia-Pacific

SYDNEY–(BUSINESS WIRE)– Global investment firm KKR today announced the signing of definitive agreements under which funds managed by KKR will commit A$500 million to strategically partner with CleanPeak Energy (“CleanPeak”) to rapidly grow its distributed energy platform. KKR’s investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia’s commercial and industrial (“C&I”) sector.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250726739898/en/

Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak is a leading provider of fully financed, integrated solar‑and‑storage systems for blue‑chip corporates across Australia. The company operates over 50 distributed generation sites across Australia including over 140MW of Solar Assets and 35MWH of Battery Energy Storage System (“BESS”) projects, and is currently delivering over $200m of construction projects in the sector.

“Australia’s C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,” said Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia. “By combining CleanPeak’s proven operating platform with KKR’s global network, operational expertise, and deep experience across our energy and infrastructure teams, we are well positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.”

CleanPeak Chief Executive Philip Graham welcomed the strategic partnership, “KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net zero solutions at the same time as accelerating our growth plans through bolt‑on acquisitions. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.”

“CleanPeak’s distributed energy approach reduces network costs which make up a significant portion of the all-in cost of retail electricity and results in more competitive power prices for our customers,” said Jon Hare, CleanPeak’s Chief Operating Officer.

KKR is making this investment from its Global Climate Transition strategy. This investment marks the strategy’s first in Asia-Pacific and its sixth transaction globally, underscoring KKR’s conviction in the energy‑transition opportunity set. Since 2010, KKR has committed more than US$34 billion in climate and environmental sustainability investments. Past investments have included Zenobē, a UK-based transport electrification and battery storage solutions specialist; EGC, an energy service provider in Germany; Dawsongroup, an independent asset leasing business which provides a diverse range of business-critical solutions; Avantus, a solar and solar-plus-storage developer in the US; and IGNIS P2X, an industrial decarbonisation platform.

The transaction is expected to close in H2 2025, subject to customary regulatory approvals.

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 CleanPeak

CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak’s operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline.

CleanPeak’s internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution.

For additional information about CleanPeak, please visit https://cleanpeakenergy.com.au.

Media Contacts
For KKR:
Wei Jun Ong
+ 65 6922 5813
WeiJun.Ong@kkr.com

James Strong
+61 (0)448 881 174
james.strong@sodali.co

For CleanPeak:
Stephanie Graham
+61 425 393 616
Stephanie.graham@cleanpeakenergy.com.au

Source: KKR

 

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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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Arclight to acquire Middletown Energy Center

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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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