Charles Russell Speechlys advises Daystar Power Group and founder on $10 million equity stake by Verod Capital Management and Persistent Energy
Charles Russell Speechlys has advised Daystar Power Group and its founder, Sunray Ventures, on a $10 million equity stake in Daystar by Verod Capital Management (Verod) and Persistent Energy (Persistent).
Daystar Power Group is a pan-African electricity company specialising in the generation of solar energy. They envision a world where affordable, reliable and clean power ceases to be a privilege and is readily available for businesses and consumers across Africa, by reducing the cost of energy, providing a stable power supply and reducing pollution.
The deal involved the issuance of a minority stake in Daystar to Verod, a leading West African private equity firm and Persistent, a pioneer investor in the off-grid sector.
Christian Wessels, Founder and Exec Chairman of Daystar Power Group, commented: “We are thrilled to receive the backing of both Verod Capital and Persistent Energy. This significant investment will boost the Daystar’s expansion efforts and strategically position us as a leading provider of renewable energy solutions across Africa. The team at Charles Russell Speechlys supported in offering legal and commercial advice”.
Edidem Basiekanem, who led on the deal, commented: “we were delighted to work with the team at Daystar on this transaction, which marks a significant milestone for them as the first major private equity investment into the company. Our international focus on Africa also meant that we were ideally placed to provide legal advice. We look forward to see the company go from strength to strength”.
You can read more about our expertise and focus on Africa here.
Phase out of temporary restrictions on use of winding up petitions
Hannah takes a look at the recent UK Government announcement on statutory demands and the presentation of winding up petitions
Preparing your company for sale
We set out here some initial steps to consider in anticipation of a sale.
Overhaul of London's stock market listing regime set to significantly boost capital raising opportunities for founder led UK tech businesses
Charles Russell Speechlys advises discoverIE on its acquisition of Antenova
discoverIE is a leading international designer, manufacturer and supplier of customised electronics to industry.
Africa Global Funds: Trends in African Agri Sector
Adrian Mayer writes on African Agri Sector for Africa Global Funds Magazine August 2021.
Charles Russell Speechlys advises Acora on acquisition of Westgate IT
Westgate IT specialises in providing IT support to businesses in the South West.
Charles Russell Speechlys advises Grape Paradise on the acquisition of a fine wine business
Charles Russell Speechlys has advised Grape Paradise on the acquisition of the Sarment Group in the China Mainland territories.
Ongoing supply chain crisis looms large over upcoming allergen law change
The Business Magazine and The Surrey Chambers of Commerce report on the firm's involvement in the sale of Online Fuels Limited to DTN
The firm advised the shareholder management team on the sale of shares in Online Fuels to global data, analytics, and technology group, DTN.
Charles Russell Speechlys advises Appital Ltd on £2.5m Investment led by Frontline Ventures
Appital is an Equity Capital Marketplace which aims to bring innovation to Equity Capital Markets.
The Business Magazine, Insider Media, Business South and The Surrey Chambers of Commerce report on the firm's involvement in Appital's £2.5m growth capital investment
The injection will accelerate the development of Appital’s technology infrastructure, integration with financial institutions.
Healthcare team advises Country Court Care on £57m sale of three care homes
Country Court Care Group Ltd has been active almost 35 years as a nursing and care home operator.
Pei Li Kew
B[re]aking up is never easy... a lesson from the Oetker business split
Charles Russell Speechlys advises Metier on US$39m investment into Africa Mobile Networks
AMN builds, owns, operates and maintains mobile network infrastructure in Africa.
Charles Russell Speechlys advises Apposite Capital on acquisition of i2a Diagnostics
i2a is a leading provider of laboratory instruments, software and reagents for the clinical microbiology market in France.
Brace yourselves: dentists could be liable for actions of self-employed staff
Private companies and public interest – a new approach to corporate governance?
Is now the optimal time to sell your company?
Charles Russell Speechlys advises Duke Royalty on royalty financing agreement with Fairmed Healthcare AG
Duke Royalty is the leading provider of royalty finance to companies in the UK and Europe.
Charles Russell Speechlys shortlisted for Best EIS/SEIS Legal/Regulatory Adviser at 2021 EISA Awards
The Awards denote excellence and recognise the achievements of EIS/SEIS practitioners over the past year.