In QuotedData’s morning briefing 18 May 2022:
- Riverstone Energy (RSE) has led a investment round in Infinitum Electric, creator of the breakthrough air-core motor. Infinitum Electric will use the investment to vertically integrate and automate production of its motors for the commercial and industrial market segments, and complete development and commercialisation of a traction motor for the rapidly growing electric vehicle market. Riverstone Holdings led the round with Applied Ventures, the venture capital arm of Applied Materials among others, bringing the company’s total funding to date to $135m. This investment, along with the recent decarbonisation investments in T-REX Group, Anuvia, and Tritium Pty, among others, demonstrates the trust’s continued efforts to increase its exposure to the global energy transition thematic while also providing the opportunity to create value for its shareholders.
- HgCapital (HGT) has agreed the sale of itm8, a leading supplier of IT services for private businesses and the public sector in Europe, to Axcel, a Nordic private equity fund. itm8 (formerly IT Relation) has more than doubled in size since Hg first invested in 2018, as measured by revenues, employees and the size of its customer base. HGT’s focus and expertise in the SME Technology Services sector in Europe has supported itm8’s growth by identifying and implementing several strategic initiatives, including supporting the acquisition of 13 businesses, all significantly adding to itm8’s customer offering, enabling it to complete an end-to-end offering to serve larger customers more effectively.
- BH Macro (BHMG) has confirmed that it may sell sterling shares at a price of 4,270 pence per share, reflecting a 10.2% premium to the estimated net asset value per share as at 13 May 2022 and a 15% premium to the monthly final net asset value per share as at 31 March 2022. BHMG intends to issue new sterling shares on this basis until 12pm on 19 May 2022.
We also have a portfolio update from Schroder British Opportunities, results from British Land and acquisitions by Regional REIT.