M&A Deal Summary

Angeleno Group and Endeavor Capital Management Acquire Clean Air Power

On July 13, 2004, growth capital firm Angeleno Group and private equity firm Endeavor Capital Management acquired automotive company Clean Air Power for 6M USD

Acquisition Highlights
  • This is Angeleno Group’s 1st and Endeavor Capital Management’s 1st transaction in the Automotive sector.
  • This is Angeleno Group’s and Endeavor Capital Management’s largest (disclosed) transaction.
  • This is Angeleno Group’s 1st and Endeavor Capital Management’s 4th transaction in the United States.
  • This is Angeleno Group’s 1st and Endeavor Capital Management’s 1st transaction in California.

M&A Deal Summary

Date 2004-07-13
Target Clean Air Power
Sector Automotive
Buyer(s) Angeleno Group
Endeavor Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 6M USD

Target

Clean Air Power

Poway, California, United States
website
Clean Air Power, Inc. designs, develops and delivers Dual-FuelTM and second-generation MicroPilot engine systems to enable heavy-duty, compression-ignited engines to run on natural gas mixed with small quantities of diesel to act as the “spark” that ignites the gas. Clean Air Power was founded in 1991 and is based in Poway, California.

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Buyer(S) 2

Buyer

Angeleno Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Angeleno Group is a private equity firm focused on high growth investments within the energy sector. The Firm pursues a wide range of opportunities and will consider transactions across the US. Angeleno looks for companies that are heavily involved in the development of innovative products and services that are emerging as potential solutions to global energy and environmental challenges. Specific sub-sectors of interest include clean transportation, emissions control and carbon management, energy efficiency, power infrastructure, renewable energy, solar, waste management, and wind. The Firm looks to commit $5 to $25 million per investment and will consider a variety of deal types, including secondaries, first institutional equity, growth equity, and PIPEs. Angeleno Group was founded in 2001 and is based in Los Angeles, California.


DEAL STATS #
Overall 1 of 26
Sector (Automotive) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (California) 1 of 15
Country (United States) 1 of 22
Year (2004) 1 of 2
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-28 Konarka Technologies

Lowell, Massachusetts, United States

Konarka develops, manufactures and markets flexible, lightweight, plastic-based photovoltaic materials.

Buy -
Buyer

Endeavor Capital Management

Portland, Oregon, United States

website


Category Private Equity Firm
Founded 1988
Size Small
Type Sector Agnostic
DESCRIPTION

Endeavor Capital Management is a private investment firm that targets expansion investments and buyout opportunities valued up to $50 million. Endeavor also looks to acquire portfolios of expansion stage companies from individual, corporate or other private equity investors. Endeavor prefers opportunities located in North America and Europe, and targets businesses operating in the environmental technologies, energy/utilities, communications, software, business process outsourcing, and technology oriented manufacturing and service sectors. The Firm looks to commit $500k to $5 million per transaction. Endeavor Capital Management was formed in 1988 and is based in Westport, Connecticut.


DEAL STATS #
Overall 4 of 5
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (California) 1 of 1
Country (United States) 4 of 4
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-21 SoftSwitching Technologies

Middleton, Wisconsin, United States

SoftSwitching Technologies Corp. is a provider of efficient and economical power conditioning and power quality solutions that correct short duration power quality events, enhance the availability and reliability of Uninterruptible Power Supply systems, controls electricity supply from distributed resources, and collects and compiles data on the connection between a customer premise and a utility grid.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-25 NxtPhase

Vancouver, British Columbia, Canada

NxtPhase is a manufacturer and marketer of optical sensors and digital solutions to the electric power industry that enable improved measurement reliability and management of electric power transmission.

Buy -