June 28, 2022: Owl Rock’s Wingspire Expands Midmarket Equipment Finance Reach
Plus, Trilantic Energy Partners joins clean energy fundraise, WILsquare invests in marketing, and more
Read the top headlines from Tuesday, June 28, 2022 below:
Owl Rock’s Wingspire Expands Midmarket Equipment Finance Reach
Middle-market specialty finance firm Wingspire Capital announced in a press release that it reached an agreement to acquire equipment financing company Liberty Commercial Finance. Wingspire is a portfolio company of Owl Rock Capital Corporation, an indirect subsidiary of Blue Owl Capital. In its announcement, Wingspire noted that the acquisition will expand its customer reach, adding a direct origination platform to offer equipment financing across the nation. “This acquisition will integrate best-in-class originations and syndication teams to our existing equipment finance offering and broadens our reach within the middle-market customer base,” noted Wingspire co-founder and CEO David Wisen in a statement. Financial details of the acquisition were not disclosed.
Trilantic Energy Partners Joins Investors in Clean Energy Fundraise
Middle-market private equity firm Trilantic Energy Partners North America is joining infrastructure investment firm Climate Adaptive Infrastructure and TPG Rise Climate in the $750 million growth equity fundraise for clean energy business Intersect Power.
Trilantic and Climate Adaptive Infrastructure were existing investors in Intersect Power, while TPG Rise Climate, the climate investing strategy of TPG’s global impact investment platform TPG Rise, joins as a newcomer. The investment will focus on furthering Intersect Power’s growth to implement its clean energy goals with customers in the retail and wholesale energy markets.
Related content: What the Future Holds for Energy M&A
WILsquare Capital Acquires Marketing Agency OuterBox
Private equity firm WILsquare Capital said in a press release it has acquired OuterBox, a digital marketing agency, for an undisclosed sum. Described by WILSquare director Andrew Scharf as “an emerging leader in the rapidly-growing area of performance marketing,” OuterBox will continue to be led by its founder and CEO Justin Smith. The acquisition is WILsquare’s third platform investment in nine months: the firm acquired Rock Energy Systems last September, and TekBrands last December.
Copley Equity and PennantPark Invest in Cartessa Aesthetics
Private equity sponsor Copley Equity Partners and middle-market direct lender PennantPark Investment Advisors are each investing in aesthetic device supplier Cartessa Aesthetics, according to a press release. Copley Equity Partners, based in Boston with a focus on lower-middle market companies, said in the announcement that it will partner with the business to support continued growth via “ambitious growth plans,” according to Cartessa founder and CEO Gabe Lubin. The business plans to introduce new technologies and further invest in its business model to promote expansion, the press release noted.