Justin Ryan’s growth equity firm Glow Capital Partners has hit the surf to catch its latest deal.
Street Talk can reveal Glow has acquired a minority stake in Adelaide-based Foil Drive, a company that designs and manufactures the world’s first retrofit electric motors for foiling watersports. Foiling is an offshoot of surfing that gained popularity in the early 2000s and involves surfers attaching a “hydrofoil” to their surfboards to manoeuvre bigger or trickier waves.
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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
