SOLV Energy buys ASB Energy Services for about 45 million dollars. SOLV Energy acquired Texas based ASB Energy Services, a contractor for substation foundations, civil construction and battery storage infrastructure, for about 45 million dollars, split between 36 million dollars in cash and 9 million dollars in SOLV Class A shares. ASB, founded in 2007, will keep its leadership and operate as a SOLV company, extending SOLV’s high voltage construction capability in Texas and other growth markets.
Green Genius raises 65 million euros in green bonds. Lithuanian developer Green Genius completed a 65 million euro (about 72.5 million dollar) four year green bond issue at three month EURIBOR plus 8 percent to refinance subordinated construction loans, for listing on Nasdaq Stockholm’s Sustainable Bond List. The company operates 595 megawatts of solar, wind and storage, has 224 megawatts in late stage construction and a 3.1 gigawatt pipeline, toward a target of more than 1 gigawatt operating by 2030.
Intera closes Finland’s largest buyout fund at its 450 million euro hard cap. Intera Partners closed Intera Fund V at 450 million euros, above its 375 million euro target, with existing and new institutional investors. The fund continues Intera’s strategy of backing Finnish and Swedish entrepreneur led services and technology companies with room to scale internationally.
Proterra closes third food and beverage credit fund at 680 million dollars. Proterra Investment Partners announced the final close of Proterra Credit Fund 3 at 680 million dollars of commitments, above its 500 million dollar target, taking commitments across the fund and companion vehicles above 1 billion dollars. The fund lends directly to lower middle and middle market food and beverage companies.
Sagard closes emerging manager fund at 520 million euros. Sagard Private Equity closed its third emerging manager focused fund at 520 million euros (about 600 million dollars), above its 400 million euro target and about three times the size of its predecessor. The fund of funds backs differentiated emerging buyout managers, including spinouts and sector specialists, and follows Sagard’s combination with Unigestion’s private equity platform.