IFM Investors

PPG to power Adrian, Michigan, automotive adhesives, sealants manufacturing facility with clean energy by 2024; advances decarbonization efforts

Retrieved on: 
Wednesday, September 21, 2022
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Through a 12-year agreement, PPG will receive energy and project-specific renewable energy certificates (RECs) from Swift Current Energys Double Black Diamond Solar Energy Project.

Key Points: 
  • Through a 12-year agreement, PPG will receive energy and project-specific renewable energy certificates (RECs) from Swift Current Energys Double Black Diamond Solar Energy Project.
  • PPGs Adrian facility manufactures adhesives and sealants for automotive original equipment manufacturers (OEM) and has more than 65 employees.
  • PPG recently announced the startup of a high-efficiency power-generation facility at its Automotive OEM manufacturing site in Quattordio, Italy.
  • The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Switch Announces Second Quarter 2022 Financial Results

Retrieved on: 
Monday, August 8, 2022
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LAS VEGAS, Aug. 8, 2022 /PRNewswire/ -- Switch, Inc. (NYSE: SWCH) ("Switch") today announced financial results for the quarter ended June 30, 2022.

Key Points: 
  • "Our second quarter 2022 revenue growth reflects the continued strong demand for our premium data center solutions and the benefit of favorable sales execution," said Gabe Nacht, CFO of Switch.
  • Switch reported consolidated second quarter 2022 revenue of $168.2 million, increasing 19% compared to the second quarter of 2021.
  • Switch reported second quarter 2022 net income of $380.7 million, compared to net income of $9.7 million in Q2 2021.
  • Second quarter 2022 Adjusted Funds from Operations were $66.4 million, compared to $64.3 million in the year ago quarter.

Switch to Report Second Quarter 2022 Financial Results

Retrieved on: 
Thursday, July 28, 2022
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LAS VEGAS, July 28, 2022 /PRNewswire/ -- Switch, Inc. (NYSE:SWCH) today announced that it will release its second quarter 2022 financial results after market close on Monday, August 8, 2022.

Key Points: 
  • LAS VEGAS, July 28, 2022 /PRNewswire/ -- Switch, Inc. (NYSE:SWCH) today announced that it will release its second quarter 2022 financial results after market close on Monday, August 8, 2022.
  • As a result of the previously announced definitive merger agreement with funds managed by DigitalBridge Group, Inc. and IFM Investors to acquire all outstanding shares of Switch common stock in an all cash transaction, the Company will not conduct a second quarter 2022 earnings conference call.
  • Switch (NYSE: SWCH), is the independent leader in exascale data center ecosystems, edge data center designs, industry-leading telecommunications solutions and next-generation technology innovation.
  • Switch Founder and CEO Rob Roy has developed more than 700 issued and pending patent claims covering data center designs that have manifested into the company's world-renowned data centers and technology solutions.

SWITCH ALERT: Bragar Eagel & Squire, P.C. Investigates Merger of SWCH and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, May 11, 2022
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On May 11, 2022, Switch announced that it had entered into an agreement to be acquired by DigitalBridge and IFM in a deal valued at approximately $11 billion.

Key Points: 
  • On May 11, 2022, Switch announced that it had entered into an agreement to be acquired by DigitalBridge and IFM in a deal valued at approximately $11 billion.
  • Pursuant to the merger agreement, Switch stockholders will receive $34.25 in cash for each share of Switch common stock owned.
  • Bragar Eagel & Squire is concerned that Switchs board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

Switch to be Taken Private by DigitalBridge Investment Management and IFM in $11 Billion Transaction

Retrieved on: 
Wednesday, May 11, 2022
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LAS VEGAS, May 11, 2022 /PRNewswire/ -- Switch, Inc. (NYSE: SWCH) ("Switch") today announced it has entered into a definitive agreement with DigitalBridge Group, Inc. (NYSE: DBRG) ("DigitalBridge"), under which DigitalBridge Partners II, the value-added digital infrastructure equity strategy of the investment management platform of DigitalBridge, and an affiliate of global infrastructure investor IFM Investors ("IFM") will acquire all outstanding common shares of Switch for $34.25 per share in an all-cash transaction valued at approximately $11 billion, including the assumption of debt.

Key Points: 
  • "Through this transaction, we will remain at the forefront of growth and innovation within the data center industry.
  • We are also pleased to partner with IFM Investors, one of the world's leading institutional infrastructure investors, to execute this compelling transaction."
  • Kyle Mangini, Global Head of Infrastructure at IFM, said, "IFM is excited to partner with DigitalBridge and Switch on this transaction.
  • IFM Investors is a global investment management firm and one of the largest infrastructure investors in the world.

Turning Rock Partners Completes $25 Million Investment to Support Recapitalization of General Asphalt

Retrieved on: 
Tuesday, February 15, 2022
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NEW YORK, Feb. 15, 2022 /PRNewswire/ --Turning Rock Partners ("TRP" or "Turning Rock"), a private investment firm based in New York, has completed a $25 million investment to support SMC Infrastructure Partners'("SMC")recapitalization of General Asphalt Co, LLC, a paving contractor based in Miami, Florida with a decades-long history of family ownership and operation.

Key Points: 
  • NEW YORK, Feb. 15, 2022 /PRNewswire/ --Turning Rock Partners ("TRP" or "Turning Rock"), a private investment firm based in New York, has completed a $25 million investment to support SMC Infrastructure Partners'("SMC")recapitalization of General Asphalt Co, LLC, a paving contractor based in Miami, Florida with a decades-long history of family ownership and operation.
  • "Turning Rock Partners is pleased to provide a structured capital solution to support the transaction and fuel further growth," said TRP Partner David Markus.
  • "We are delighted to support SMC and General Asphalt in their future growth," said Maggie Arvedlund, CEO of Turning Rock Partners.
  • SMC Chairman & Chief Executive OfficerAaron Richardsonsaid, "We are incredibly excited to partner with the Lopez family, IFM, and Turning Rock Partners to support the next phase of growth for General Asphalt.

AIMCo Announces Board of Directors Appointment, Reappointment and Retirement

Retrieved on: 
Tuesday, February 8, 2022
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The Order also reappoints Ms. Phyllis Clark as a member of the board of directors for a term to expire on December 31, 2024.

Key Points: 
  • The Order also reappoints Ms. Phyllis Clark as a member of the board of directors for a term to expire on December 31, 2024.
  • "Theresa Whitmarsh brings an additional element of sophisticated investment and risk management decision-making experience to the Board of Directors," said Mark Wiseman, AIMCo Board Chair.
  • "With proven skills and knowledge in institutional investing, AIMCo and its clients are poised to benefit greatly from her guidance."
  • The appointment of Ms. Theresa Whitmarsh fills the vacancy left by the retirement of Jim Prieur from the Board of Directors, having served two terms since his appointment in 2016.

Indiana Toll Road Launches Smart Parking Network to Empower Commercial Drivers

Retrieved on: 
Thursday, December 23, 2021
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ELKHART, Ind., Dec. 23, 2021 (GLOBE NEWSWIRE) -- ITR Concession Company (ITRCC) is launching a network of smart parking signage for freight and truck drivers who depend on the Indiana Toll Road.

Key Points: 
  • ELKHART, Ind., Dec. 23, 2021 (GLOBE NEWSWIRE) -- ITR Concession Company (ITRCC) is launching a network of smart parking signage for freight and truck drivers who depend on the Indiana Toll Road.
  • As a critical link between the Midwest and Northeast, the Toll Road serves commercial drivers every day.
  • "Our goal is to give commercial drivers the opportunity to plan their trips more accurately," said Rick Fedder, ITRCC's COO.
  • Parking space availability is also transmitted through Truck Specialized Parking Services' (TSPS) Osprey platform, which populates up-to-date parking availability through web, iOS, and Android applications.

$1.4 billion committed to district energy projects in Toronto and Mississauga

Retrieved on: 
Wednesday, November 3, 2021
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TORONTO, Nov.3, 2021 /CNW/ - Canada Infrastructure Bank (CIB) and Enwave Energy Corporation (Enwave) have completed a long-term agreement valued at $1.4 billion to accelerate and advance district energy projects in the Cities of Toronto and Mississauga.

Key Points: 
  • TORONTO, Nov.3, 2021 /CNW/ - Canada Infrastructure Bank (CIB) and Enwave Energy Corporation (Enwave) have completed a long-term agreement valued at $1.4 billion to accelerate and advance district energy projects in the Cities of Toronto and Mississauga.
  • District energy projects align with our priority to invest in clean energy infrastructure which reduce greenhouse gas emissions.
  • The district energy projects will benefit those who live and work in Toronto and Mississauga for generations to come.
  • We are pleased to support this transformational agreement between the CIB and Enwave that will help build out district energy projects to bring efficient and low-carbon energy to new communities in Toronto and Mississauga.

Indiana Toll Road Commits to Reduce Carbon Emissions by 50 Percent by 2030 and Carbon Neutrality by 2050

Retrieved on: 
Wednesday, October 27, 2021
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ELKHART, Ind., Oct. 27, 2021 (GLOBE NEWSWIRE) -- ITR Concession Company (ITRCC) has formally established a pathway to reduce carbon emissions by 50% by 2030, with an additional commitment of achieving carbon neutrality by 2050.

Key Points: 
  • ELKHART, Ind., Oct. 27, 2021 (GLOBE NEWSWIRE) -- ITR Concession Company (ITRCC) has formally established a pathway to reduce carbon emissions by 50% by 2030, with an additional commitment of achieving carbon neutrality by 2050.
  • "Our science-based initiatives will have a positive impact on the environment while also improving the efficiency of the Toll Road.
  • Electric charging, high-efficiency equipment, and solar technology developments will bring a more sustainable travel solution to Northern Indiana."
  • The ambitious carbon reduction goals set forth by ITRCC focus on "Scope 1" and "Scope 2" emissions.