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Northleaf buys EVPassport; BV extends ownership of Right Networks; and Elizabeth Crain moves on

Good morning, Hubsters. MK Flynn here with the Wire.

Today, we’re looking at a couple of deals in the energy sector, one announced this morning by Northleaf Capital Partners involving EV charging stations and another announced earlier in the week by SK Capital involving hydrocarbon waste management.

In other news… With exits hard to find these days, more PE firms are turning to continuation strategies. This morning, BV Investment Partners announced the closing of a single-asset continuation fund deal.

And finally, we’ll share some people news from Moelis & Co.

EV transition

Northleaf Capital Partners, a Toronto-based private markets investment firm, has agreed to acquire a controlling stake in EVPassport, an electric vehicle charging platform provider based in Los Angeles.

For more about the deal, upgrade to the premium version of the Wire.

Hydrocarbon waste management

Demand for environmental services is growing as companies in the energy and industrial sectors aim to meet tougher regulations and ambitious decarbonization goals. Earlier this week, New York headquartered SK Capital Partners completed the acquisition of Houston-based Milestone Environmental Services from Amberjack Capital Partners, also based in Houston.

PE Hub’s Obey Martin Manayitispoke with Jack Norris, SK Capital’s managing director, to learn more.

Upgrade to read the interview.

Extension course

BV Investment Partners, a Boston-based PE firm focused on tech-enabled business services, software, and IT services, announced today the closing of a single-asset continuation fund transaction for Right Networks,a provider of cloud-based software for tax and accounting firms.

For more on the deal, including the PE firms participating, upgrade to the premium version of the Wire.

And for more the rising trend of continuation funds, see ongoing coverage from Buyouts, including this story about a multi-asset fund deal run by Leonard Green & Partners.

Moving on

Elizabeth Crain is leaving Moelis & Co. to pursue other business interests, the New York-based investment bank confirmed. Widely considered one of the most influential women in M&A, Crain, who is a co-founder of the firm, has served as chief operating officer since its founding in 2007. She will depart at the end of the first quarter of 2024.

To learn what Ken Moelis said, upgrade your subscription.

On that note, I’ll sign off. Tomorrow, Obey will be with you to close out the week, and I’ll be back on Monday.

All the best,

MK

Read the full wire commentary on PE Hub ...

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