Cornell and Trilantic Acquire Trustaff and CardioSolution
Cornell Capital LLC and
trustaff Management Inc., a provider of travel nurse and allied healthcare staffing services, and
CardioSolution, a managed services offering providing cardiologists and support personnel to hospitals. As part of this transaction, Cornell Capital and Trilantic North America have also agreed to acquire
Stella.ai Inc. a VC-backed, AI-driven online marketplace for employers and job seekers.
“As demand for healthcare staffing solutions continues to increase, their scalable model, entrepreneurial cultures and strong relationships position the combined company for continued geographic expansion and accelerated growth, both organically and through additional acquisitions.” said
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Powin Energy Corporation (Powin), a global leader in the design and manufacture of safe and scalable battery energy storage solutions, announced today that it has signed an agreement to sell its controlling interest to and obtain significant equity funding from lead investors Trilantic North America and Energy Impact Partners (EIP). This transaction will enable Powin to accelerate its growth plans, while enhancing its bankability profile and solidifying its position as a leader in the energy storage market.
For nearly the past decade, Powin has worked to advance its patented battery management technology and develop market leading product offerings. Headquartered in Tualatin, Oregon, Powin has built over 600 MWh of systems, supporting 54 projects in 10 states and 8 countries. Powin has a contracted pipeline to supply over 4,000 MWh of energy storage systems globally over the next five years.
Intersect Power has also closed on a $482m debt facility with Generate Capital and CarVal Investors.
The Intersect Power team has developed 3.7GW (DC) of solar assets with a portfolio value of more than $8bn.
Intersect Power CEO Sheldon Kimber said: “The investments announced today will give us the ability to more quickly scale our core business of solar and energy storage, while expanding further into emerging classes of clean infrastructure, like green hydrogen.
“Intersect combines a clear understanding of what it takes to put steel in the ground with a focus on what comes next in the deployment of low-carbon technologies.”
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Lindsay Ting is a principal of Trilantic North America. Trilantic is a PE firm focused on control and minority investments in the business services, consumer and energy sectors with aggregate capital commitments of $9.7 billion. At Trilantic, Ting is involved in all aspects of deal origination and execution. Prior to joining Trilantic, she worked at PE firms Castanea Partners and TA Associates as well as One Kings Lane, an e-commerce platform.
Ting began her career in investment banking at Morgan Stanley. She holds an MBA from Stanford Graduate School of Business, a master’s from Stanford Graduate School of Education and a bachelor’s in mathematics, magna cum laude, from Williams College.