Sydneysiders are bracing for more heavy rain and grey skies but buyout firm Adamantem has its sights on sunnier times, striking a deal to take a majority stake in solar-focused embedded network developer Microgrid Power.
Adamantem will sink $24 million into Microgrid Power via its environmental opportunities fund (EOF), coming in alongside the founders and other rolling shareholders on the capital table. Commonwealth Bank has also plugged in a $30 million flexible debt package to support expansion.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
