The Canada Pension Plan Investment Board is investing €550 million in Europe-based team.blue to acquire a 20 per cent interest in the firm.
The total transaction gives team.blue a valuation of €4.8 billion. The digital solutions provider serves 3.3 million small- and medium-sized businesses across 22 countries.
In a press release, Hafiz Lalani, managing director and global head of direct private equity at the CPPIB, said the firm operates in an attractive, resilient and growing online presence sector. “Under its current leadership, the business has executed on a successful [mergers and acquisitions] strategy to expand its product offerings and local presence across multiple European countries.”
Read: CPPIB generates net return of 8% as of Q1 2024, net assets increase to $632.3BN
In other investment news, the Caisse de dépôt et placement du Québec is acquiring SPE 7, a power transmission network spanning 124 kilometres in northern Brazil, through its subsidiary Verene Energia.
The transaction is valued at $210 million and marks the Caisse’s third power transmission investment in Latin America. The deal is expected to close by December 2024.
“This new transaction reaffirms our commitment to investing in critical assets that unlock the full potential of renewable energy projects and accelerate energy transition, particularly in Brazil, a core market for us,” said Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, in a press release. “To this end, we will continue to grow Verene Energia, the driving force for the development and operation of [Caisse’s] power transmission assets in Latin America.”
Read: Caisse buys stake in Brazilian energy firm subsidiary, backs Quebec-based bakery