BlackBridge Group, a provider of end-to-end technology and services across the geospatial value chain, has secured $22 million in funding. The investors are BDC Subordinate Financing, an investment arm of the Business Development Bank of Canada, and the Bank of Montreal. Proceeds will be used for the development of the company's next generation of satellites, RapidEye+, and for the renewal of existing credit facilities. Based in Lethbridge, Alberta, BlackBridge in 2011 acquired its German competitor RapidEye AG. BDC Subordinate Financing provides quasi-equity investments to small and medium-sized businesses in Canada.
Warren Buffett's Berkshire Hathaway Inc bought a new stake of 11 million shares in Verizon Communications Inc in the first quarter and added to its holding in Wal-Mart Stores Inc, according to a regulatory filing on Thursday.
The private equity arm of Singaporean sovereign wealth fund GIC has agreed to buy a minority stake in the hospital unit of Philippine conglomerate Metro Pacific Investments Corp (MPIC) for 3.7 billion pesos ($85 million), Reuters reported.
Sun Private Equities said Friday that it has acquired a majority stake in Sustainable Refining. No financial terms were disclosed. Based in Franklin, New Hampshire, Sustainable Refining is a producer of renewable, vegetable-based industrial grade lubricants and oils.
Home solar firm Sunrun has closed $150 million in equity financing. The investors were not named although according to the firm, a "leading public institutional investor" led the round. Sunrun's previous backers include Accel Partners, Sequoia Capital, Foundation Capital and Madrone Capital Partners.
Golden Gate Capital has agreed to buy Red Lobster from Darden Restaurants for $2.1 billion in cash. Darden expects to receive net cash proceeds, after taxes and transaction costs, of about $1.6 billion, with about $1 billion to retire debt. The remaining $500 million to $600 million will be used for new share repurchases of up to $700 million in fiscal 2015.
Natural Gas Partners and PetroCore management has invested more than $100 million in PetroCore, a Dallas, Texas-based exploration and production company. NGP made the investment through its tenth fund.
Kubra, which is backed by the Clairvest Group, is up for sale, several sources told peHUB.
NGP Energy Technology Partners has made an undisclosed investment in Wellsite Rental Services. Based in Broussard, Louisiana, Wellsite is a rental equipment provider for the oil and gas sector.
Spectrum Equity has acquired a minority stake in Verafin for C$60 million. RBC Capital Markets was the placement agent on the transaction. Based in St. John’s, Newfoundland, Verafin is a provider of anti-money laundering and fraud detection solutions for the financial services industry.