CVC Capital Partners has sold its 13.8% stake in Spanish energy company Naturgy, worth about €4bn at current market prices. The deal comes eight years after CVC first invested in Naturgy, and two months after BlackRock sold its 11.4% stake in Naturgy for €2.79bn. Naturgy, formerly Gas Natural Fenosa, provides natural gas and electrical energy utilities services, primarily in Spain.
Arsenal Capital Partners has agreed to buy a majority stake in Velcro Companies from the Cripps Foundationm, which will continue as a significant minority shareholder. The company – the owner of the highly recognized Velcro brand – provides hook and loop fastening technologies. The 74-year-old business now operates globally, with about 2,400 employees, providing products for the medical, data center, personal care, consumer, industrial, transportation, defense and apparel industries. Arsenal operating partner Jeremy Steinfink said, “The Velcro brand is one of the most iconic brands in both industrial and consumer fastening technologies, with decades of innovation and a best-in-class product portfolio.”
Tech investor Hg has made a $500m strategic growth investment in Rightsline, a provider of rights and royalties management software for IP-intensive industries. Klass Capital – Rightsline’s majority owner since 2020 – Salem Partners, and the broader management team will reinvest in the business. Hg said the global proliferation of streaming platforms, cross-border content licensing, and IP-intensive business models had created a growing operational challenge for rights holders, who need to track who owns what, where, and ensure the right parties get paid. Rightsline processes more than $40bn of royalties annually and manages over 150 million IP assets across 28 countries.
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