Sunstone Credit Acquires ORKA Finance

Solar Capital Ltd. Acquires Majority Stake in Kingsbridge Holdings LLC

November 3, 2020

Financial Services

Solar Capital Ltd. acquired an 87.5% majority stake in Kingsbridge Holdings LLC on November 3, 2020, investing approximately $216 million (about $136 million of equity and $80 million of debt). The stake was purchased from TZP Capital Partners II, LP and affiliates with Kingsbridge management rolling a portion of their equity; the acquisition expands Solar Capital's specialty finance platform by adding lease origination and asset finance capabilities through Kingsbridge's equipment leasing business based in Lake Forest, Illinois.

Solaris (DIP Lenders/GoodFinch) Acquires Substantially All Sunnova Assets; SunStrong to Manage Portfolio

September 4, 2025

Energy

Solaris Assets, LLC (an acquisition vehicle formed by an ad hoc group of DIP financing lenders and affiliates and entities controlled by GoodFinch Management, LLC) completed the purchase of substantially all assets and business operations of Sunnova Energy International Inc. in a court‑supervised Chapter 11 sale. The deal was structured as a credit bid plus $25 million in cash and certain cure payments, and Sunnova’s core operations will transition to SunStrong Management, LLC as the asset manager to ensure continuity of residential solar servicing, O&M, and portfolio management.

Rackspace Acquires Onica from Sunstone Partners

November 5, 2019

Cloud & SaaS

Rackspace acquired Onica, an AWS Premier Consulting Partner and managed services provider, from Sunstone Partners in a transaction announced November 2019 and expected to close in Q4 2019. Onica had grown to more than 350 consultants across North America after Sunstone’s 2017 investment; the acquisition strengthens Rackspace’s AWS managed cloud capabilities and cloud-native consulting footprint.

KKR Acquires SunFireMatrix (SunFire)

April 2, 2024

Cloud & SaaS

Funds managed by KKR have acquired SunFireMatrix, Inc. ("SunFire"), a SaaS and tech-enabled services platform serving the Medicare, health plan and insurance distribution markets. Funds managed by Stone Point Capital LLC, the Company's previous majority owner, will remain a significant minority shareholder; financial terms were not disclosed. KKR is investing via its Health Care Strategic Growth Fund II and was advised by Evercore (KKR) and William Blair (SunFire).

Aurica Capital Takes 41.5% Stake in STI Norland

February 19, 2020

Renewable Energy

Aurica Capital has taken a 41.5% minority stake in STI Norland through its Aurica III fund, providing growth capital to the Pamplona-based manufacturer of large-scale photovoltaic trackers and mounting structures. The investment will support STI Norland's international expansion and continued product and service development; financial terms were not disclosed.

Mirova Acquires SunFunder

June 3, 2022

Energy

Mirova, an affiliate of Natixis Investment Managers, acquired 100% of SunFunder, a private debt manager that finances clean energy projects in emerging markets. The deal retains SunFunder's team and is intended to expand Mirova's debt financing capabilities and build a broader emerging markets platform for renewable energy, including plans to launch a $500 million solar energy debt fund.