In QuotedData’s morning briefing 18 April 2024:

• Apax Global Alpha (through its interest in Apax XI) is investing about €36m in Zellis Group.  Zellis is leading provider of payroll and HR software solutions to customers in the UK and Ireland and an emerging leader in the global benefits administration software market, serving approximately one third of the FTSE 100 companies. Zellis Group is headquartered in Bristol, with operations in the UK, Ireland, India and the Philippines. Apax sees an opportunity to improve the company’s already strong position in its core payroll offerings by driving growth in the mid- and upper-mid market segments and by acquiring additional HR modules to cross-sell into the customer base. There is also a meaningful opportunity to grow the benefits administration business.
• CVC Income & Growth’s (CVCE / CVCG) latest tender will be done at €1.0243 for the euro shares and 112p for the sterling shares. Payment for the March 2024 tender will be made on 17 May 2024.
• Harmony Energy Income (HEIT) says the amount that it is earning from the National Grid ESO’s Balancing Mechanism has been rising this year. It has been helped by more volatile energy prices thanks to the various wind storms that have hit the UK this year. Like-for-like revenue (including Capacity Market revenue) has improved by about 58% from about £45,500/MW/Year (based on the whole of January) to about £72,000/MW/Year (in April month-to-date). There was also an extra boost in February from the Embedded Export Tariff, which is retrospectively awarded to generating assets in certain zones (in the Midlands and South of Great Britain) which exported power during the three half-hourly periods of highest demand during the winter months (November-February inclusive). However, there is no change to the current dividend policy as yet.