Biden’s infrastructure bill: not a game changer for clean-energy investors; Kainos Capital acquires pet food manufacturer

Clean-energy investors say infra bill not a gamechanger while Kainos Capital acquires pet food manufacturer.

Happy Thursday!

This is Karishma Vanjani, filling in for Sarah who’s taking a much needed vacation outside the national borders!

In yesterday’s excessive heat, I stepped out to meet a private equity source and unsurprisingly, we spent a chunk of time chatting about the climate investing strategy.

To me, the very evident effects of global warming everywhere – wildfires in Greece, Algeria – along with the federal budget plans funding climate change programs, make the case for investments in clean energy assets so much stronger.

But sustainability-focused private equity firms, albeit supportive, consider both the legislations in the pipeline – the $1 trillion infrastructure and the $3.5 trillion climate and healthcare draft – inconsequential to their playbooks.

“It’s not necessarily something we are banking on or in any way holding our breath for,” said Todd Bright, partner and head of private infrastructure Americas at Partners Group over a phone call this week.

For Bright, the infra bill simply adds to the tailwinds that were already there. “This will help accelerate development of the industry; we are fully supportive of it.”

On the climate and healthcare legislation that’s early in the works, Bright said, “It’s got a lot of other initiatives beyond climate.”

Read my story on PE Hub to hear from other investors.

Pet deals continue: Kainos Capital today announced the acquisition of Muenster Milling, a Texas-based pet food and ingredient manufacturer.

Just six days ago, Whitebridge Pet Brands, a St. Louis, Missouri-based maker of dog and cat foods and treats was acquired by European-based firm, NXMH.

Kainos acquired Muenster, a family-owned pet food business, in a proprietary deal, according to the press release.

“We were introduced to the Felderhoff brothers [founders] through our industry relationships and have always appreciated Muenster’s reputation as a first-rate operator with products that truly meet the needs of today’s pet owners,” stated Kevin Elliott, partner at Kainos in the press release.

Founded in 1932, Muenster specializes in freeze-dried and extruded dog food, cat food, and horse feed with a focus on providing healthy options. Read the brief here.

That’s it! Have a good week ahead, and as always, write to me at karishma.v@peimedia.com with any feedback, tips or just to say hello.