UK – Pi Capital pumps £4m into Applied Kilovolts
Small UK buyout specialist Pi Capital has provided £3.93m to Applied Kilovolts to allow the power supplier to acquire Brandenburg, a rival. The deal, which effectively doubles the size of Applied Kilovolts, also sees the firm buy out the minority stake of its founder. The total funding package is £8.31m, with £4.38m bank debt. As is usual with Pi’s investments, the deal is being syndicated down to the firm’s investor base.
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