M&A Deal Summary

Stem Acquires AlsoEnergy

On December 16, 2021, Stem acquired information technology company AlsoEnergy from Clairvest Group for 695M USD

Acquisition Highlights
  • This is Stem’s 1st transaction in the Information Technology sector.
  • This is Stem’s largest (disclosed) transaction.
  • This is Stem’s 1st transaction in the United States.
  • This is Stem’s 1st transaction in Colorado.

M&A Deal Summary
Date 2021-12-16
Target AlsoEnergy
Sector Information Technology
Buyer(s) Stem
Sellers(s) Clairvest Group
Deal Type Add-on Acquisition
Deal Value 695M USD
Advisor(s) William Blair (Financial)
Goodmans (Legal)

Target

AlsoEnergy

Boulder, Colorado, United States
AlsoEnergy provides complete advanced solutions for control, monitoring, and management of solar PV and solar plus storage assets. This includes integrated software and hardware systems for DAS, SCADA, and power plant control, along with services covering the project lifecycle from system design and engineering through installation, commissioning, and support. AlsoEnergy provides technology solutions for more than 30GW of production in over 50 countries worldwide, providing regional expertise in all world markets using sales and service offices in Germany, Japan, and India along with US headquarters. AlsoEnergy was formed in 2007 and is headquartered in Boulder, Colorado.

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Buyer(S) 1

Buyer

Stem

San Francisco, California, United States
Category Company
Founded 2009
Sector Information Technology
Employees624
Revenue 461M USD (2023)
DESCRIPTION

Stem is a provider of commercial energy storage systems. Stem delivers innovative technology services that transform the way energy is distributed and consumed. Through its AI platform Athena, Stem powers the largest, most reliable network of energy storage systems in the world. Stem was founded in 2009 and is based in San Francisco, California.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.

DEAL STATS #
Overall 25 of 31
Sector (Information Technology) 2 of 3
Type (Add-on Acquisition) 11 of 15
State (Colorado) 1 of 1
Country (United States) 12 of 17
Year (2021) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-05 Delaware Park Casino

Wilmington, Delaware, United States

Delaware Park Casino is a multi-faceted gaming facility. The company consists of over 100,000 square feet of gaming space with traditional gaming positions (i.e. slot machines, tables games, poker tables), and also offers retail sports betting, iGaming, and live thoroughbred racing. Delaware Park Casino was founded in 1937 and is based in Wilmington, Delaware.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Boston Carting Services

East Greenwich, Rhode Island, United States

Boston Carting Services is an independent solid waste management company servicing the Greater Boston Area with a focus on providing residential, commercial and roll-off container waste collection. Boston Carting Services was founded in 2018 and is based in East Greenwich, Rhode Island.

Buy -
Mergr

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Company

Legal