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M&A Deal Summary

Perseus Acquires Distributed Energy Systems

On June 5, 2007, merchant bank Perseus acquired electrical equipment company Distributed Energy Systems for 13M USD

Acquisition Highlights
  • This is Perseus’ 4th transaction in the Electrical Equipment sector.
  • This is Perseus’ 4th largest (disclosed) transaction.
  • This is Perseus’ 15th transaction in the United States.
  • This is Perseus’ 1st transaction in Connecticut.
Investment Fate
  • Distributed Energy Systems went bankrupt in 2008.

M&A Deal Summary
Date 2007-06-05
Target Distributed Energy Systems
Sector Electrical Equipment
Buyer(s) Perseus
Deal Type Going Private
Deal Value 13M USD

Target

Distributed Energy Systems

Wallingford, Connecticut, United States
Distributed Energy Systems Corp. is a designs, develops, and manufactures proton exchange membrane (PEM) electrochemical systems that isolate hydrogen from water in a zero pollution process that allows for safe, pure, and reliable on-site hydrogen production.

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Buyer(S) 1

Buyer

Perseus

Washington, District of Columbia, United States
Category Merchant Bank
Founded 1995
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Perseus is a private equity firm focused on middle-market buyouts, recapitalizations, and growth equity investments. Perseus looks businesses operating with proven management, strong brands, and 'powerful intellectual property'. Sectors of interest include biotechnology, medical devices, branded consumer products, business services, information technology, communications, and energy/environmental service companies. Perseus was formed in 1995 and maintains offices in Washington DC, New York City, and Munich.

DEAL STATS #
Overall 19 of 28
Sector: Electrical Equipment M&A 4 of 5
Type: Going Private M&A Deals 2 of 2
State: Connecticut M&A 1 of 1
Country: United States M&A 15 of 22
Year: 2007 M&A 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-25 Clean Energy

Newport Beach, California, United States

Clean Energy is a provider of vehicular natural gas (CNG and LNG) as an alternative fuel to vehicle fleets across the US. Clean Energy was founded in 2001 and is based in Newport Beach, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-12 Seismic Equipment Solutions

Houston, Texas, United States

Seismic Equipment Solutions is a global value added service provider to the seismic contracting industry, including the lease, lease/purchase, sale, and technical support of new, used, and re-certified instrumentation and recording equipment used in land seismic data acquisition. Seismic data is the technology resource most widely used in determining the location of hydrocarbon and geologic deposits.

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