M&A Deal Summary

Cypress Creek Renewables Acquires FLS Energy

On November 11, 2016, Cypress Creek Renewables acquired renewable energy company FLS Energy from New Energy Capital

Acquisition Highlights
  • This is Cypress Creek Renewables’ 1st transaction in the Renewable Energy sector.
  • This is Cypress Creek Renewables’ 1st transaction in the United States.
  • This is Cypress Creek Renewables’ 1st transaction in North Carolina.

M&A Deal Summary

Date 2016-11-11
Target FLS Energy
Sector Renewable Energy
Buyer(s) Cypress Creek Renewables
Sellers(s) New Energy Capital
Deal Type Add-on Acquisition

Target

FLS Energy

Asheville, North Carolina, United States
FLS Energy, Inc. is a full service solar energy provider that owns and operates a portfolio of solar energy assets throughout the U.S. FLS development team takes projects from conception to commissioning and offers complete in-house system design, engineering, construction, financing and turnkey project development.

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Buyer(S) 1

Buyer

Cypress Creek Renewables

Santa Monica, California, United States

Category Company
Founded 2014
Sector Renewable Energy
DESCRIPTION

Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20MW AC in capacity. Cypress Creek Renewables was founded in 2014 and is based in Santa Monica, California.


DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-08 Cypress Creek Renewables - Solar Project 74 MW

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Cypress Creek Renewables - Central Virginia Solar Project

Santa Monica, California, United States

Cypress Creek Renewables, LLC - Central Virginia Solar Project is a 62.5-megawatt (AC) Madison Solar generating facility.

Sell -

Seller(S) 1

SELLER

New Energy Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2004
Size Small
Type Sector Focused
DESCRIPTION

New Energy Capital is a private investment firm focused on acquiring and investing in renewable energy projects. New Energy looks for controlling interests in biomass, including landfill gas and animal waste-to-energy projects; combined heat and power projects at commercial and industrial facilities; and ethanol and biodiesel projects. New Energy looks for North American opportunities requiring $20 to $200 million of capital. New Energy Capital is based in Hanover, New Hampshire.


DEAL STATS #
Overall 3 of 6
Sector (Renewable Energy) 2 of 4
Type (Add-on Acquisition) 2 of 3
State (North Carolina) 1 of 1
Country (United States) 3 of 6
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 Pine Gate Renewables

Asheville, North Carolina, United States

Pine Gate Renewables is a U.S.-based developer, owner and operator of utility-scale solar farms. Pine Gate has a 500 MW development pipeline, and plans to operate over 200 MW of solar farms by the end of 2017. Pine Gate Renewables’ mission of providing locally generated renewable solar power for communities nationwide is centered on utility-scales sites from 2-100+ MW. The company specializes in land origination, project development, project financing and asset management. Pine Gate Renewables is committed to the broad transformation of our nation’s energy model by making community-based solar an option for everyone. Pine Gate Renewables is based in Asheville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 AltAir Fuels

Paramount, California, United States

AltAir Fuels develops and operates projects for the production of low carbon fuels and chemicals derived from sustainable feedstocks. The company is a refiner of environmentally sustainable feedstocks for the production of jet and diesel fuels. AltAir’s initial facility is the world’s first renewable fuels refinery with integrated jet fuel production capability. AltAir Fuels was founded in 2008 and is based in Paramount, California.

Sell -