M&A Deal Summary

NRG Acquires Goal Zero

On August 14, 2014, NRG acquired electronics company Goal Zero from Mercato Partners and Sorenson Capital

Acquisition Highlights
  • This is NRG’s 1st transaction in the Electronics sector.
  • This is NRG’s 13th transaction in the United States.
  • This is NRG’s 1st transaction in Utah.

M&A Deal Summary
Date 2014-08-14
Target Goal Zero
Sector Electronics
Buyer(s) NRG
Sellers(s) Mercato Partners
Sorenson Capital
Deal Type Add-on Acquisition

Target

Goal Zero

Bluffdale, Utah, United States
website
Goal Zero Corp. is an innovator of portable solar power systems that power a variety of electronic devices anywhere and at anytime. Providing a perfect blend of portability, power, and ease-of-use, their products feature full solar energy systems – solar panels, power packs and accessories – each designed to work together.

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Buyer(S) 1

Buyer

NRG

Houston, Texas, United States

website

Category Company
Founded 1989
Sector Utilities
Employees6,603
Revenue 31.5B USD (2022)
DESCRIPTION
Entrance to an NRG office in downtown Houston, Texas.
Entrance to an NRG office in downtown Houston, Texas.

NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas.

DEAL STATS #
Overall 13 of 16
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 9 of 11
State (Utah) 1 of 2
Country (United States) 13 of 15
Year (2014) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-27 Roof Diagnostics

Wall Township, New Jersey, United States

RDS provides solar sales and installation companies in America and a market leader in every state they operate. The 475-employee company has experienced tremendous growth in just a few short years in the Northeast and is now expanding into California and other areas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 Pure Energies

Toronto, Ontario, Canada

Pure Energies advises homeowners on residential solar systems and home conservation products to help them save money and make a difference for their communities. The company helps enable customers to make smart decisions about home solar adoption. Through a unique online platform, Pure Energies identifies and provides detailed analysis of the customer’s home solar feasibility versus their energy needs.

Buy -

Seller(S) 2

SELLER

Mercato Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Mercato Partners is a private equity firm focused on later stage growth capital financings. Mercato generally targets minority investments in high growth technology and consumer businesses with $5 to $50 million in annual sales. The Firm looks for profitable, US-based companies where additional capital can help continue expansion opportunities. Mercato Partners is based in Salt Lake City, Utah.

DEAL STATS #
Overall 6 of 12
Sector (Electronics) 2 of 2
Type (Add-on Acquisition) 4 of 7
State (Utah) 6 of 10
Country (United States) 6 of 11
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-23 Fusion-io

Salt Lake City, Utah, United States

Fusion-io, is a developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyperscale datacenters.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-24 Lendio

Lehi, Utah, United States

Lendio is a free online service that helps business owners find the right small business loans within minutes. Lendio was founded in 2011 and is based in Lehi, Utah.

Buy -
SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 13 of 29
Sector (Electronics) 2 of 2
Type (Add-on Acquisition) 7 of 16
State (Utah) 6 of 13
Country (United States) 12 of 28
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-07 Imagine Learning

Provo, Utah, United States

Imagine Learning designs and develops language and literacy software for struggling readers, early childhood students, and the rapidly growing English language learner (ELL) student population.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-27 Pluralsight

Draper, Utah, United States

Pluralsight is a provider of technical skill development solutions. The Company's cloud-based technology learning platform provides a broad range of tools, including skill assessments, a curated library of courses, learning paths, and business analytics. Pluralsight was formed in 2004 and is based in Draper, Utah.

Buy -
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