Energy & Sustainability M&A Activity – August 2020
Recent M&A Activity:
- July 1, 2020: Process Results was acquired by IMEG for an undisclosed amount. Process Results provides chemical process engineering services in Michigan as well as energy conservation services to the commercial and industrial sectors.
- July 6, 2020: Vivint Solar reached a definitive agreement to be acquired by Sunrun for $3.2 billion, including debt. Vivint Solar is a solar company that distributes electricity to residential customers through long-term contracts.
- July 9, 2020: GHI Energy was acquired by UGI for an undisclosed amount. GHI Energy is a renewable natural gas company that specializes in robust carbon credit trading programs.
- July 15, 2020: PolyCera was acquired by PSP.US, a subsidiary of Beijing Daking Eastern Technology Co., Ltd. (Daking), for an undisclosed amount. PolyCera develops a polymeric material platform that offers enhanced water filtration performance beyond conventional ceramic and polymeric membranes.
- July 17, 2020: A portfolio of six wind farms in Elmore County, Idaho, operated by Terna Energy SA, was acquired by Innergex Renewable Energy Inc. for $56.8 million. The six 23 MW wind farms – Cold Springs, Desert Meadow, Hammett Hill, Mainline, Ryegrass and Two Ponds – have a total installed capacity of 138 MW.
*Source: PitchBook
Authors
Thomas R. Burton, III
Member / Chair, Energy & Sustainability Practice
Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.
Sahir Surmeli
Member / Co-chair, Energy & Sustainability Practice
Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.