Investment Summary

Greenbelt Capital Partners, Energy Impact Partners and Blackstone Credit Invest In ION Solar

On March 8, 2022, private equity firm Greenbelt Capital Partners, private equity firm Energy Impact Partners and lender Blackstone Credit invested in renewable energy company ION Solar

Investment Highlights
  • This is Greenbelt Capital Partners’ 2nd, Energy Impact Partners’ 1st and Blackstone Credit’s 1st transaction in the Renewable Energy sector.
  • This is Greenbelt Capital Partners’ 7th, Energy Impact Partners’ 3rd and Blackstone Credit’s 8th transaction in the United States.
  • This is Greenbelt Capital Partners’ 1st, Energy Impact Partners’ 1st and Blackstone Credit’s 1st transaction in Utah.

Investment Summary

Date 2022-03-08
Target ION Solar
Sector Renewable Energy
Investor(s) Greenbelt Capital Partners
Energy Impact Partners
Blackstone Credit
Deal Type Growth Capital

Target

ION Solar

Provo, Utah, United States
website
ION Solar is a full-service solar company that offers the highest-quality solar systems with world-class support. ION Solar was founded in 2013 and is based in Provo, Utah.

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Investor(S) 3

DESCRIPTION

Greenbelt Capital Partners is a specialist investment firm focused on the energy sector. The Firm typically seeks control investments, and commits $50 to $150 million per transaction. Greenbelt considers a variety of transaction types, including management buyouts, generational transitions, recapitalizations, and growth equity. Greenbelt Capital Partners was founded in 2021 and is headquartered in Austin, Texas.


DEAL STATS #
Overall 7 of 11
Sector (Renewable Energy) 2 of 2
Type (Growth Capital) 4 of 6
State (Utah) 1 of 1
Country (United States) 7 of 11
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-20 SemaConnect

Bowie, Maryland, United States

SemaConnect is a provider of electric vehicle charging stations and network software management across North America. SemaConnect was founded in 2008 and is based in Bowie, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-14 SemaConnect

Bowie, Maryland, United States

SemaConnect is a provider of electric vehicle charging stations and network software management across North America. SemaConnect was founded in 2008 and is based in Bowie, Maryland.

Sell $200M
Investor
DESCRIPTION

Energy Impact Partners is an investment firm focused on the conversion of the energy industry towards a decarbonized, decentralized, digitized and electrified future. Energy Impact Partners was formed in 2014 and is headquartered in New York City.


DEAL STATS #
Overall 3 of 7
Sector (Renewable Energy) 1 of 1
Type (Growth Capital) 2 of 3
State (Utah) 1 of 1
Country (United States) 3 of 7
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Swimlane

Louisville, Colorado, United States

Swimlane is an independent security orchestration, automation and response (SOAR) vendor. The company was founded to deliver scalable and flexible security solutions to organizations struggling with alert fatigue, vendor proliferation, and chronic staffing shortages. Its solution helps organizations address all security operations (SecOps) needs, including prioritizing alerts, orchestrating tools and automating the remediation of threats improving performance across the entire organization. Swimlane was founded in 2014 and is based in Louisville, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-12 6K

North Andover, Massachusetts, United States

6K engages in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing produced from its unimelt plasma technology. 6K was founded in 2014 and is based in North Andover, Massachusetts.

Buy -
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.


DEAL STATS #
Overall 11 of 12
Sector (Renewable Energy) 1 of 1
Type (Growth Capital) 2 of 2
State (Utah) 1 of 1
Country (United States) 8 of 9
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 XLN Telecom

London, United Kingdom

XLN Telecom is a communications company based in London. It supplies fixed line and broadband services to 70,000 customers in the SME sector and is one of Britain’s fastest growing alternative telecoms service providers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 ELC

Savannah, Georgia, United States

ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.

Buy -