3i together with members of the Advanced Power board have invested EUR 31.5m in Swiss company Advance Power AG. The company is active in the development of electricity generation plants in Europe and the US. It currently has 10 ongoing projects in different development stages, anticipating approval within the next five years.
First MBO in Italy for the GP, which will now start investing from its recently raised Fund VIII
Add-on comes after Mergermarket reported that the sale of Bergman had been suspended in March 2020
Trade buyer Xact was acquired by JLL Partners from Clearview Capital in 2018 in an MBO
Existing investors Novo Holdings, Morningside Ventures and Brace Pharma Capital also participate