Apollo, an alternative investment manager, completed the acquisition of a majority stake Graanul, a wood pellet producer. Financial terms were not disclosed. “With the accelerating Energy Transition in Europe and globally, baseload renewable energy sources such as biomass are a critical and enabling piece of the puzzle, by providing dispatchable electricity and heat to must-run facilities. Raul and the Graanul team are best-in-class in this industry and have done an excellent job scaling and positioning the business to play a critical role supporting this energy transition, as a reliable supplier to its customers, with proven sustainability," Brad Fierstein, Apollo Principal.