Good morning, Hubsters. Obey Martin Manayiti here with the Wire, filling in for MK Flynn. Today we are looking at Brookfield Renewable’s agreement to acquire the unregulated utility scale commercial renewables business of Duke Energy. We will also have a look at Goldman Sachs’ investment in TV advertising software platform Madhive. I also have a pair of health-related stories, first from my interview with Signet Health Partners about a recent exit and then another story from Rafael Canton about Trinity Hunt Partners’ investment in clinical research company Centricity Research. But let’s start with the latest news. Power up Brookfield Renewables agreed to buy the unregulated utility scale Commercial Renewables business of Duke Energy at an enterprise value of approximately $2.8 billion late yesterday, including non-controlling tax equity interests and the assumption of debt. Brookfield said this deal will enhance its position as one of the biggest players in the renewables space. Premium subscribers will learn more about this deal in the full version of the Wire. TV advertising Goldman Sachs has made a $300 million investment in New York-based Madhive, a TV advertising software platform. The investment will enable Madhive to accelerate the growth and adoption of its CTV platform, according to a statement. Madhive was founded in 2016. More on this in the premium version of this newsletter. Generic drugs Signet Healthcare Partners, a New York-based PE firm, exited its stake in drugmaker RK Pharma to realize a return of almost three times its investment, founding partner and managing director James Gale said. In an interview after the exit, Gale said the demand for generic drugs helped the company to grow, while also heaping praise on the management team led by founder and executive chairman of RK Pharma, Ravishanker Kovi. Subscribe to the premium version to get the whole interview. Clinical Research The clinical research industry is highly fragmented and is in an early phase of consolidation, John Oakes, principal at Trinity Hunt Partners, told PE Hub’s Rafael Canton. That’s one reason why Trinity Hunt Partners recently made a majority investment in Centricity Research, a Columbus, Georgia and Toronto-based clinical research services provider. The deal makes Trinity Hunt a majority stakeholder in the company. That’s it for me today. Chris Witkowsky, Buyouts editor will be back with the wire tomorrow. Cheers, Obey Read the full wire commentary on PE Hub ... |