M&A Deal Summary

Schneider Electric and AES Acquire Uplight

On July 28, 2021, Schneider Electric and AES acquired internet software and services company Uplight from Rubicon Technology Partners and Morgan Stanley Capital Partners

Acquisition Highlights
  • This is Schneider Electric’s 1st and AES’s 1st transaction in the Internet Software and Services sector.
  • This is Schneider Electric’s 19th and AES’s 9th transaction in the United States.
  • This is Schneider Electric’s 2nd and AES’s 2nd transaction in Colorado.

M&A Deal Summary

Date 2021-07-28
Target Uplight
Sector Internet Software and Services
Buyer(s) Schneider Electric
AES
Sellers(s) Rubicon Technology Partners
Morgan Stanley Capital Partners
Deal Type Add-on Acquisition

Target

Uplight

Boulder, Colorado, United States
Uplight is a provider of energy management software, hardware, and services for consumers and utility companies. Uplight data analytics on more than 123 million homes creates new business opportunities for any product or service provider connected to the home. Today, this includes electric and gas utilities, and energy retailers. Built over more than a decade, the Tendril Platform delivers real-time, ever-evolving data about the home and how people use energy in it. These rich insights help our customers improve customer acquisition, increase engagement and orchestrate home energy experiences. Uplight was founded in 2004 and is based in Boulder, Colorado.

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Buyer(S) 2

Buyer

Schneider Electric

Rueil Malmaison, France

Category Company
Founded 1836
Sector Electrical Equipment
Employees164,640
Revenue 35.9B EUR (2023)
DESCRIPTION

Schneider Electric is a provider of electricity distribution, automation management and produces installation components for energy management. Schneider Electric develops connected technologies and solutions to manage energy and process in ways that are safe, reliable, efficient and sustainable. Schneider Electric was founded in 1836 and is based in Rueil-Malmaison, France.


DEAL STATS #
Overall 38 of 41
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 36 of 37
State (Colorado) 2 of 2
Country (United States) 19 of 21
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Schneider Electric Motion USA

Marlborough, Connecticut, United States

Schneider Electric Motion USA is a manufacturer of motion control components for automation equipment. Schneider Electric Motion USA's innovative motion control solutions, specifically around brushless motor technology, integrated motor drives, and electronic controls. Schneider Electric Motion USA was founded in 1986 and is based in Marlborough, Connecticut.

Sell $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 EnergySage

Boston, Massachusetts, United States

EnergySage is an online comparison-shopping marketplace for rooftop solar, energy storage, project financing, and community solar. EnergySage empowers consumers to request and compare competing quotes online from a network of more than 500 pre-screened installation companies – a formula that is proven to result in a higher rate of adoption, 20 percent lower prices on average for consumers, and significantly lower costs for renewable energy providers. EnergySage was founded in 2009 and is based in Boston, Massachusetts.

Buy -
Buyer

AES

Arlington, Virginia, United States

Category Company
Founded 1981
Sector Utilities
Employees9,600
Revenue 12.7B USD (2023)
DESCRIPTION

AES is a power company that owns and operates a diverse and growing portfolio of electricity generation and distribution businesses, which provide reliable, affordable energy to customers in 21 countries. AES understands that a reliable, affordable supply of electricity is essential to human progress, economic growth, public health and security. AES was founded in 1981 and is based in Arlington, Virginia.


DEAL STATS #
Overall 11 of 13
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 10 of 12
State (Colorado) 2 of 2
Country (United States) 9 of 11
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 sPower

Salt Lake City, Utah, United States

sPower is an independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and the UK. With 4.0 gigawatts between operating, construction and pipeline, sPower are actively buying select utility-scale renewable assets in virtually any stage of development in the United States. sPower is based in Salt Lake City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Valcour Wind Energy

Albany, New York, United States

Valcour Wind Energy operates a wind generation portfolio in New York along with a dedicated operations platform. The portfolio comprises six distinct wind farms located in Northern and Western New York.

Buy -

Seller(S) 2

DESCRIPTION

Rubicon Technology Partners is a specialist private equity firm firm that invests in lower middle-market enterprise software and technology-enabled services companies. Rubicon looks to make control investments of $20 to $50 million in businesses generating $10 to $150 million in revenue. Target transaction situations include buyouts and recapitalizations of closely held private companies, corporate divestitures, carve-outs or spin-outs, buy and build opportunities, and shareholder liquidity events. Rubicon has offices in Menlo Park, California and Stamford, Connecticut.


DEAL STATS #
Overall 3 of 5
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 1 of 3
State (Colorado) 1 of 1
Country (United States) 3 of 4
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-02 Central Logic

Sandy, Utah, United States

Central Logic's flexible, purpose-built solution provides superior real-time visibility and unmatched business intelligence to optimize the operations of health system Access Centers. Clients count on Central Logic to deliver strong growth, find new ways to improve patient outcomes, and make their operations more effective, today and into the future. Central Logic was formed in 2005 and is based in Sandy, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 AppNeta

Boston, Massachusetts, United States

AppNeta is a provider of proactive application and network monitoring solutions built for the distributed, cloud-connected, digital enterprise. AppNeta was founded in 2011 and is based in Boston, Massachusetts.

Sell -
DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


DEAL STATS #
Overall 22 of 25
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 10 of 11
State (Colorado) 1 of 2
Country (United States) 18 of 21
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Alliance Technical Group

Decatur, Alabama, United States

Alliance Technical Group is a provider of air emissions testing and monitoring solutions to customers throughout the United States. With expertise in a variety of end markets, Alliance is focused on people, process, and technology to provide unparalleled response and service to assist customers with meeting their air compliance and risk reduction goals. Alliance Technical Group was formed in 2000 and is based in Decatur, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 PPC Flexible Packaging

Buffalo Grove, Illinois, United States

PPC Flexible Packaging is a provider of converted flexible packaging for the healthcare, medical, organic snack, pet food, bakery and produces markets. The company excels in the design and manufacture of value-added printed, laminated and stand up pouch packaging for the most demanding applications. Recognized for its focus on exceptional speed to market, it excels in delivering service, quality, and technology to its valued customer base. PPC Flexible Packaging was founded in 1968 and is based in Buffalo Grove, Illinois.

Sell -