Latest news with #SVP
Travel Daily News
06-05-2025
- Business
- Travel Daily News
airBaltic celebrates 20 years in Munich and Paris
Mantas Vrubliauskas, VP Network Management at airBaltic said: 'Munich has long been one of the cornerstones of our network, consistently ranking among our most demanded destinations with steadily increasing passenger numbers. As a gateway to Bavaria and a major European hub, it plays a vital role in serving both leisure and business travelers. We now serve Munich up to 21 times per week, making it easier than ever to travel between Southern Germany and the Baltic countries.' Oliver Dersch, SVP Aviation Munich Airport, commented: 'Celebrating the 20th Anniversary of the airBaltic Riga-Munich flight, we are looking at a real success story of an excellent example airline-airport partnership in joint route development. Since 2005 more than 1.5 million people already benefited from the link between Latvia and the Bavarian gateways to the world. Over the years airBaltic has also added Vilnius and Tallinn to our network. Thank you airBaltic for 20 years of close friendship and partnership.' airBaltic connects Riga to Munich with up to two daily flights, providing its passengers with two service classes – Economy and Business Class. Furthermore, the airline also provides direct service from Munich to Tallinn (Estonia), and Vilnius (Lithuania), with up to five weekly flights operating between the both cities. Since the airline's first flight on this route in April 2005, airBaltic has carried more than 1.5 million passengers and operated over 17 thousnad flights between the two cities. In total, airBaltic operates flights from Riga to five destinations in Germany – Berlin, Dusseldorf, Frankfurt, Hamburg, and Munich. Additionally, the airline offers over 10 direct routes connecting the Baltic States to various destinations in Germany, strengthening connectivity between the two regions. Two daily flights from airBaltic from Riga to Paris Also, airBaltic celebrates a remarkable milestone – 20 years of connecting its home base of Riga (Latvia) to Paris (France). For over two decades, the airline has provided travelers between the two countries with a diverse range of options for leisure, business, and onward connections.
Yahoo
05-05-2025
- Business
- Yahoo
Strategic Value Partners completes acquisition of stake in Birdsboro Power facility
Strategic Value Partners (SVP), an alternative investment firm managing assets worth approximately $22bn, has announced the acquisition of a stake in Birdsboro Power facility by its managed funds called SVP Funds. Birdsboro Power is a 485MW natural gas-fired combined-cycle generation facility located in Berks County, Pennsylvania, US. The facility began commercial operations in 2019. The facility, featuring GE's advanced 7HA.02 gas turbine, is a key baseload asset in the region, according to SVP. It provides reliable, low-cost power to customers in Pennsylvania and the broader Pennsylvania-New Jersey-Maryland (PJM) Interconnection area. This strategic acquisition aligns with SVP's partnership with EverGen Power, formed in 2024 to acquire and manage power assets across North America. EverGen co-CEO Ari Barz said: 'We are excited to partner with SVP in its investment in Birdsboro Power, which is an environmentally advantaged plant with efficient new turbine technology that is well-positioned to serve its customers in a period of significant forecasted demand growth.' EverGen co-CEO Dave Freysinger added, 'We look forward to working with our partners in optimising the operational and commercial performance of this important facility and continuing to deliver reliable, flexible and efficient power in the region.' SVP boasts extensive expertise in real asset sectors, with approximately $3bn invested in power assets since 2001. The firm also holds majority ownership of GenOn since 2018 and has made significant investments in various energy assets and companies. SVP head of North American corporate investments David Geenberg said: 'Given EverGen's and SVP's industry expertise, we were able to move quickly and provide deal certainty while executing on a bilateral basis. 'We have worked closely with members of the EverGen leadership team since 2018, including in the underwriting, acquisition and operation of GenOn. We believe that Birdsboro Power, similar to GenOn, has potential to unlock further efficiencies with the benefit of renewed engagement and operational oversight.' "Strategic Value Partners completes acquisition of stake in Birdsboro Power facility" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
27-04-2025
- Business
- Time of India
City NGO gets Rs 15 lakh grant
Nagpur: Underprivileged Advancement by Youth (UPAY), a Nagpur-based NGO, has secured the Silver Award at Social Venture Partners (SVP) India's Fast Pitch event last week, receiving a Rs 15 lakh grant to enhance their educational programmes for disadvantaged children . The organisation leads initiatives for providing education to underprivileged children in the city. Established in 2010, UPAY has achieved notable success in educational development, community enhancement, and skills training. Speaking to TOI, founder Varun Shrivastava revealed that UPAY operates 10 centres in Nagpur, with primary facilities at Wardhaman Nagar and Cotton Market. "The organisation works closely with families, identifying children from underprivileged backgrounds — especially child beggars — and bringing them to the centres with parental consent. Children are picked up daily at 8.30am, provided with quality education, engaged in sports activities, served two nutritious meals, given clothing, and then dropped back to their homes by 3.30pm," he said. Discussing the organisation further, Shrivastava explained their primary initiative, 'Footpathshala', launched in 2014 to support street children. "Beyond Nagpur, UPAY manages 10 more centres in Mouda and several others in nearby villages. In all, UPAY operates 44 centres across India and has touched over 2.5 lakh lives through its efforts in education, health, sanitation, disaster relief, and community development," said Shrivastava. UPAY additionally focuses on creating economic independence in disadvantaged areas. The organisation identifies and develops local talents and abilities, aiming to establish small-scale industries for sustainable community employment. Shrivastava, an IIT Kharagpur graduate, said, "Our vision is a future where every child will have a dignified childhood and equal opportunity to live, learn, and grow." He collaborated with fellow alumni from various IITs and NIITs to develop one of India's largest volunteer-based NGOs, supported by over 400 active contributors and more than 7,000 volunteers, operating across Delhi NCR, Maharashtra, Karnataka, Meghalaya, and West Bengal.
11-04-2025
- Business
Oman's OQ Chem acquired by global investment firms
Wholly Omani state-owned OQ Chemicals, a global manufacturer of Oxo chemicals used as intermediaries in the production of a wide array of commodities, has been acquired by a partnership of European-based investment firms, it was announced on Wednesday, April 9, 2025. A subsidiary of OQ – the integrated global energy group of the Sultanate of Oman – OQ Chemicals manufactures Oxo intermediates and Oxo performance chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These chemicals are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavours and fragrances, printing inks, and plastics. On Wednesday, the alliance of Strategic Value Partners (SVP), a global alternative investment firm based in the UK, and Blantyre Capital Limited, a London-based investment manager, revealed that funds managed by the two companies have acquired OQ Chemicals. Also as part of the transaction, OQ Chemicals will be rebranded to OXEA, the name it held prior to its acquisition by OQ in 2013. While financial details about the transaction were not immediately revealed, it is understood that it covers all of OQ Chemicals' global operations, including primary production sites in Germany and the United States. The group has more than 1,200 employees on its rolls, and markets its products to over 60 countries globally. Earlier in the week, global law firm Akin stated that it had advised the ad hoc group of lenders to OQ Chemicals on the group's holistic recapitalisation, and amendment of its credit facilities. 'The transaction closed on April 8, 2025, with certain lenders becoming the new shareholders of the Group following a partial equitisation of their loans and injection of new equity. The lenders under the Group's senior credit facilities have also amended and extended their loans. The transaction was implemented consensually, following overwhelming support from the Group's lenders,' Akin noted in a press statement. Significantly, both investment firms behind the newly rebranded OXEA's acquisition are financial heavyweights in their own right. SVP manages approximately $22 billion in assets under management, and has invested more than $53 billion of capital since inception. Blantyre, a specialist in middle market equity and debt solutions, manages more than €2.7bn of long-term capital commitments on behalf of leading institutional investors, including public and private pension plans, sovereign wealth funds, and endowments. Both players have pledged to strengthen OXEA's positioning in the global oxo market. 'OXEA's leading market positions, global reach, and innovation capabilities provide a solid foundation for long-term growth,' said HJ Woltery, Co-Head of the European Investment Team at SVP. 'OXEA's significant expertise in oxo chemicals, combined with its global footprint, presents ample opportunities for growth. We look forward to supporting the Company as it continues to expand its product offerings and enhance its strategic position in the industry,' added Mubashir Mukadam, Chief Investment Officer at Blantyre Capital. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
10-04-2025
- Business
- Observer
OQ Chem acquired by global investment firms
Wholly Omani state-owned OQ Chemicals, a global manufacturer of Oxo chemicals used as intermediaries in the production of a wide array of commodities, has been acquired by a partnership of European-based investment firms, it was announced on Wednesday, April 9, 2025. A subsidiary of OQ – the integrated global energy group of the Sultanate of Oman – OQ Chemicals manufactures Oxo intermediates and Oxo performance chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These chemicals are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavours and fragrances, printing inks, and plastics. On Wednesday, the alliance of Strategic Value Partners (SVP), a global alternative investment firm based in the UK, and Blantyre Capital Limited, a London-based investment manager, revealed that funds managed by the two companies have acquired OQ Chemicals. Also as part of the transaction, OQ Chemicals will be rebranded to OXEA, the name it held prior to its acquisition by OQ in 2013. While financial details about the transaction were not immediately revealed, it is understood that it covers all of OQ Chemicals' global operations, including primary production sites in Germany and the United States. The group has more than 1,200 employees on its rolls, and markets its products to over 60 countries globally. Earlier in the week, global law firm Akin stated that it had advised the ad hoc group of lenders to OQ Chemicals on the group's holistic recapitalisation, and amendment of its credit facilities. 'The transaction closed on April 8, 2025, with certain lenders becoming the new shareholders of the Group following a partial equitisation of their loans and injection of new equity. The lenders under the Group's senior credit facilities have also amended and extended their loans. The transaction was implemented consensually, following overwhelming support from the Group's lenders,' Akin noted in a press statement. Significantly, both investment firms behind the newly rebranded OXEA's acquisition are financial heavyweights in their own right. SVP manages approximately $22 billion in assets under management, and has invested more than $53 billion of capital since inception. Blantyre, a specialist in middle market equity and debt solutions, manages more than €2.7bn of long-term capital commitments on behalf of leading institutional investors, including public and private pension plans, sovereign wealth funds, and endowments. Both players have pledged to strengthen OXEA's positioning in the global oxo market. 'OXEA's leading market positions, global reach, and innovation capabilities provide a solid foundation for long-term growth,' said HJ Woltery, Co-Head of the European Investment Team at SVP. 'OXEA's significant expertise in oxo chemicals, combined with its global footprint, presents ample opportunities for growth. We look forward to supporting the Company as it continues to expand its product offerings and enhance its strategic position in the industry,' added Mubashir Mukadam, Chief Investment Officer at Blantyre Capital.
