KKR has agreed to acquire EDF power solutions’ renewable energy operations in the US and Canada from EDF Group in a transaction valuing the equity at approximately $4.2bn, with potential additional payments of up to $390m. The business ranks among the 10 largest owners of renewable energy capacity in the US and operates an integrated platform spanning the development, construction, operation and maintenance of solar, wind and battery storage assets across North America. KKR said the investment, which will be funded through its global infrastructure strategy, will provide the platform with additional resources to expand its asset base, improve operational performance and accelerate its development pipeline as electricity demand rises from data centres, manufacturing reshoring and wider electrification. Managing director Cecilio Velasco said the business was well positioned to support growing demand for affordable power through its diversified portfolio and project pipeline. KKR has invested more than $26bn globally in renewable energy and energy transition assets.
ACON Investments has acquired a controlling stake in organic confectionery brand YumEarth, marking the first investment from its newly launched ACON Evolution Fund. Founded in 2007, YumEarth manufactures organic, allergy-friendly confectionery products that are distributed through around 30,000 retail outlets, including Target, Walmart, Whole Foods and Kroger. The investment was completed alongside Spanish confectionery manufacturer The Fini Company, which will retain an ownership interest and support YumEarth’s next phase of expansion with its global manufacturing and distribution expertise. ACON said the acquisition aligns with its strategy of investing in differentiated consumer businesses benefiting from long-term growth trends. Financing was led by Truist Bank, while Santander advised ACON. TM Capital advised YumEarth, with Jones Day acting as transaction counsel.
Adenia Partners has acquired a majority stake in African insurance brokerage and risk advisory firm Minet Group from Capitalworks, following receipt of regulatory approvals. Headquartered across nine African markets, Minet provides insurance brokerage, employee benefits and risk advisory services to corporate, SME and institutional clients, having previously operated as part of Aon before its acquisition by Capitalworks in 2017. Adenia said the investment reflects its strategy of backing market-leading businesses providing essential services across Africa and will support Minet’s operational development, technology investment and geographic expansion as insurance penetration continues to increase across the continent. Partner Martha Osier said the firm sees a significant opportunity to build scalable, technology-enabled insurance models for Africa’s rapidly growing and urbanising population. DLA Piper Africa and EY Parthenon advised Adenia, while Capitalworks was advised by Bowmans, Rothschild, Webber Wentzel and PricewaterhouseCoopers.
Martis Capital has acquired a majority equity stake in healthcare marketing and communications agency Deerfield Group, with the company’s founders and management team retaining a significant ownership position. Based in the Philadelphia area, Deerfield provides integrated marketing, media, communications and technology services to pharmaceutical, biotechnology, health technology and consumer health companies, having grown revenue by more than 30% annually since 2017. Martis said the investment will provide additional capital to expand Deerfield’s capabilities, strengthen its technology offering and accelerate development of AI-enabled marketing and analytics solutions for healthcare clients. Managing partner Mario Moreno said the firm was attracted by Deerfield’s differentiated position at the intersection of healthcare, marketing and technology, while CEO Frank Burrell said the partnership would support continued investment in the company’s “Agency of Intelligence” model combining human expertise with artificial intelligence.
Cathay Capital has launched Ascendia Autism Care, a new platform focused on expanding access to Applied Behavior Analysis (ABA) therapy across the US, beginning with a founding affiliate operating 20 centres in eight states. The private equity firm said the investment will fund both the platform’s launch and future growth through new clinic openings and additional partnerships with autism care providers. Ascendia employs more than 400 clinicians, including over 70 Board Certified Behavior Analysts, and plans to expand its footprint over the next two years while increasing its presence in school-based care settings. Cathay said the investment reflects growing demand for autism services as access to evidence-based ABA therapy continues to lag need in many US markets. Gladstone Capital Corporation participated as a capital partner, while Berkery Noyes advised on the transaction and Haynes Boone served as legal counsel.
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