Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.
Cooling, while critical to health and safety, contributes 3.4 percent of global emissions, according to the World Economic Forum. This morning, we dive into industrial refrigeration, where sustainability efforts have caught the attention of private equity. I caught up with Ambienta principal Massimiliano Lecchi to learn more about the sector, and to find out the firm’s plans for its industrial refrigeration platform Frigoveneta.
We’re not straying far from our opening theme, as next we’ll look at Apollo agreeing to acquire a majority stake in a Scottish energy services company from Oaktree.
Shifting away from energy and sustainability, we then have a life insurance deal. Cinven has agreed to sell Viridium Group to a consortium comprising Allianz, BlackRock, T&D Holdings, Hannover Re and Generali.
To finish, we have an EQT-ledconsortium completing its acquisition of Nord Anglia Education.
Keeping cool
Ambienta has a “solid” pipeline of targets for Italian commercial refrigeration services provider Frigoveneta in a market driven by a progressive switch to low global warming potential refrigerants, principal Massimiliano Lecchi told PE Hub.
You can find the full story here. It covers why Mercuri was a good addition to Frigoveneta and what Ambienta’s M&A plans for the platform look like.
Energy opportunity
Let’s move away from cooling and look at energy more broadly. Apollo has agreed to acquire a majority stake in OEG Energy Group from Oaktree.
To learn more, including the valuation, check out the premium Wire here.
Keep your eyes peeled for more on the OEG deal, as I’ll be looking into it in more depth.
Insurance exit
Let’s go from energy to exit. Cinven has agreed to sell Viridium Group to a consortium comprising Allianz, BlackRock, T&D Holdings, Hannover Re and Generali.
To learn how Cinven grew Viridium, take a look at the full Wire coverage here.
Done deal
Before I sign off, let’s take a look at a deal that has made it to the finish line. EQT, as part of a consortium including Neuberger Berman Private Markets, Canada Pension Plan Investment Board, Corporación Financiera Alba and Dubai Holding Investments, has completedthe acquisition of Nord Anglia Education.
For the valuation and more, read the premium Wire here.
PE Hub initially reported on the deal in October.
That’s all from me this morning. Michael Schoeck will write to you with the US edition later today, while Irien Joseph is in the Europe chair tomorrow.
Cheers,
Nina
Read the full Wire commentary on PE Hub ...
