Peloton Equity has announced it has closed a growth and recapitalization investment in Grenova.
Grenova, based in Richmond, Va., is a manufacturer of green technology for the life sciences industry. Founded in 2014, the company produces waste reduction solution, including devices that enable labs to wash and recycle pipette tips.
Peloton, based in Greenwich, Conn., is a healthcare-focused private equity firm focused exclusively on growth capital investments across a wide range of healthcare sectors. The firm targets companies with $20 million to $200 million in revenue at investment.
Joining Peloton in acquiring a majority stake in Grenova were Hamilton Lane, Morgan Stanley AIP Private Markets and other investors.
Terms of the investment were not disclosed.