M&A Deal Summary

Sharp Acquires Recurrent Energy

On September 21, 2010, Sharp acquired renewable energy company Recurrent Energy from JEN Partners and Hudson Sustainable Investment Management for 305M USD

Acquisition Highlights
  • This is Sharp’s 1st transaction in the Renewable Energy sector.
  • This is Sharp’s largest (disclosed) transaction.
  • This is Sharp’s 1st transaction in the United States.
  • This is Sharp’s 1st transaction in California.
Investment Fate
  • Recurrent Energy was divested to a consortium of strategic buyers in 2015.

M&A Deal Summary
Date 2010-09-21
Target Recurrent Energy
Sector Renewable Energy
Buyer(s) Sharp
Sellers(s) JEN Partners
Hudson Sustainable Investment Management
Deal Type Add-on Acquisition
Deal Value 305M USD

Target

Recurrent Energy

San Francisco, California, United States
Recurrent Energy is a provider of solar projects for utilities, government, and commercial customers. We develop, build, and operate distributed solar power systems—typically 2-20MW each—connected to the existing distribution grid. We market renewable power to our customers in North America and Europe at competitive rates via a Power Purchase Agreement (PPA) or Feed-in Tariff (FiT).

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Buyer(S) 1

Buyer

Sharp

Sakai, Japan
Category Company
Founded 1912
Sector Electronics
Employees47,941
Revenue 2.32T JPY (2024)
DESCRIPTION

Sharp is a electronics manufacturer. The company primarily operates and markets its products in Japan, North America, Europe, and China. Sharp was founded in 1912 and is based in Sakai, Japan.

DEAL STATS #
Overall 1 of 2
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 Recurrent Energy

San Francisco, California, United States

Recurrent Energy is a provider of solar projects for utilities, government, and commercial customers. We develop, build, and operate distributed solar power systems—typically 2-20MW each—connected to the existing distribution grid. We market renewable power to our customers in North America and Europe at competitive rates via a Power Purchase Agreement (PPA) or Feed-in Tariff (FiT).

Sell -

Seller(S) 2

SELLER

JEN Partners

New York, New York, United States
Category Private Equity Real Estate
Founded 2005
Size Middle-Market
Type Sector Focused
DESCRIPTION

JEN Partners is a real estate private equity firm that makes investments in real estate development projects and operating real estate companies. Specific areas of interest include homebuilding, public storage, industrial/office, brokerage, land entitlement, senior care residences, medical offices, construction services, building product suppliers, and hotels. JEN prefers opportunities located in North America and can commit up to $25 million of equity per transaction. JEN Partners was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 1 of 2
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 2
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-01 Boston Financial Investment Management

Boston, Massachusetts, United States

Boston Financial Investment Management L.P. is a provider of low income housing tax credit industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-25 AV Homes

Scottsdale, Arizona, United States

AV Homes, Inc. is a provider in the development, sale, and management of active adult communities. AV Homes builds communities that serve both active adults (55 years and older) as well as people of all ages. AV Homes, Inc. was formed in 1970 and is headquartered in Scottsdale, Arizona.

Buy -
SELLER

Hudson Sustainable Investment Management

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Hudson Clean Energy Partners is a private equity firm focused on investments in clean energy. Hudson invests in companies focused on renewable power, alternative fuels, energy storage and demand-side energy management. The Firm prefers high-growth, asset based opportunities. Hudson Clean Energy Partners was formed in 2007 and is based in Teaneck, New Jersey.

DEAL STATS #
Overall 1 of 7
Sector (Renewable Energy) 1 of 2
Type (Add-on Acquisition) 1 of 4
State (California) 1 of 2
Country (United States) 1 of 5
Year (2010) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Eagle Creek Renewable Energy

Morristown, New Jersey, United States

Eagle Creek Renewable Energy LLC is an owner, operator and developer of hydroelectric power projects. Eagle Creek’s projects provide clean energy to electricity consumers in North America while providing recreational opportunities and protecting historical resources and the environment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-28 Green Campus Partners

Edison, New Jersey, United States

Green Campus Partners is a pioneering development and financial solutions firm for the rapidly expanding energy efficiency and distributed generation markets. GCP focuses on development, financing, and implementation of projects in two key energy services segments: energy efficiency and distributed generation. Green Campus Partners was founded in 2009 and is based in Edison, New Jersey.

Buy -
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