BOSTON – Mintz acted as deal counsel to Rhombus Energy Solutions, a leading EV Charging and Energy Management Solutions provider, in its sale to automotive parts dealer, BorgWarner. The transaction has a deal value up to $185 million.
Rhombus, which is headquartered in San Diego, supplies its patented technology to EV Original Equipment Manufacturers, including Proterra, and charging and grid service providers. The deal expands BorgWarner’s electric vehicle portfolio in the North America market.
Mintz Member Louis Mercedes led the multi-disciplinary team at Mintz advising Rhombus, which included Energy & Sustainability Chair, Tom Burton, Member Sebastian Lucier , Minhaj Rahman, Jessica Zhang (Corporate) and David Lagasse (Employment, Labor & Benefits).
This transaction is the latest in a number of recent transactions that Mintz has advised on in the energy and sustainability space, including acting for Monterey Capital Acquisition Corporation, a Special Purpose Acquisition Company targeting clean energy companies on its $92 million initial public offering and listing on the Nasdaq Global Market and in the acquisition of BlueWave, a leading Boston-based solar and energy storage developer and certified B Corp., by a fund managed by Axium Infrastructure.
Focused on emerging and regulated industries, particularly energy and sustainability, technology and communications, life sciences and health care, and financial services, attorneys in Mintz’s Corporate Practice boast extensive experience in all stages of the capital-raising process – from start-up and venture capital funding, to initial public offerings, to continuing debt and equity finance needs, including private placements and public offerings. The firm’s transactional attorneys advise clients on how to keep their business healthy by working to structure transformative licensing or partnership arrangements, and, when the time is right, assist in growing clients via mergers and acquisitions.