M&A Deal Summary

Lignetics Acquires Energex

On January 31, 2020, Lignetics acquired forest products company Energex from Element Partners

Acquisition Highlights
  • This is Lignetics’ 3rd transaction in the Forest Products sector.
  • This is Lignetics’ 3rd transaction in the United States.
  • This is Lignetics’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-01-31
Target Energex
Sector Forest Products
Buyer(s) Lignetics
Sellers(s) Element Partners
Deal Type Add-on Acquisition

Target

Energex

Mifflintown, Pennsylvania, United States
Energex is one of the largest producers of residential and industrial wood pellet fuel in North America, with total annual sales of over 140,000 tons of biofuel. Wood pellet fuel is an environmentally friendly and renewable source of energy, rapidly gaining market shares for applications in residential heating, commercial utility, and CO2 offset markets. Energex was founded in 1993 and is based in Mifflintown, Pennsylvania.

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Buyer(S) 1

Buyer

Lignetics

Broomfield, Colorado, United States
Category Company
Founded 1983
Sector Forest Products
DESCRIPTION

Lignetics is a residential wood pellet manufacturing company in the U.S. The company’s innovative eco-friendly offering includes premium wood pellets for super-efficient home heating, barbecue pellets that naturally seal in perfect wood-fired flavor, and a superior all-natural high-performance cat litter. The company delivers these innovative all-natural products through national retail partners and directly to consumers via the only national network of wood pellet manufacturing plants spread across the U.S. and Canada with 22 different plant locations. Lignetics was founded in 1983 and is based in Broomfield, Colorado.

DEAL STATS #
Overall 3 of 5
Sector (Forest Products) 3 of 5
Type (Add-on Acquisition) 2 of 4
State (Pennsylvania) 1 of 1
Country (United States) 3 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 GF Funding

Strong, Maine, United States

GF Funding LLC is a residential wood pellet manufacturing company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-16 GLRE

Hayward, Wisconsin, United States

GLRE is a wood pellet manufacturer specializing in BBQ wood pellets, primarily under the Lumber Jack Grilling Pellets brand. The Company is the only round log pellet mill in the world that has devoted its future capacity to produce this product, and it is the only mill making a 5.5mm size pellet. GLRE serves over 1,200 recurring customers in various BBQ sub-sectors across the globe including seasoning, sporting goods, leisure, and professional meat smoking companies. GLRE is based in Hayward, Wisconsin.

Buy -

Seller(S) 1

SELLER

Element Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2005
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Element Partners is a specialist private equity firm focused on late-stage investments in alternative energy and clean technology companies. Target businesses are at or near profitability with experienced management. Sectors of interest include energy/power, water/environmental controls, chemicals/advanced materials, and manufacturing/industrial. Element Partners was formed in the year 2005 and is based in Radnor, Pennsylvania.

DEAL STATS #
Overall 22 of 25
Sector (Forest Products) 1 of 1
Type (Add-on Acquisition) 14 of 16
State (Pennsylvania) 5 of 5
Country (United States) 20 of 22
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 LumaSense Technologies

Santa Clara, California, United States

LumaSense Technologies, Inc. is a developer of sensor devices for energy industry. LumaSense Technologies was founded in 2005 ans id based in Santa Clara, California.

Sell $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-09 TAS Energy

Houston, Texas, United States

TAS Energy, Inc. is a manufacturer of packaged cooling and energy systems for multiple end-markets, including Power Generation, Commercial & Industrial Cooling, Advanced Heat Recovery (including Geothermal), and Data Centers.

Sell -
Mergr

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