M&A Deal Summary

Sunpower Acquires SunRay Renewable Energy

On February 11, 2010, Sunpower acquired renewable energy company SunRay Renewable Energy from Denham Capital for 277M USD

Acquisition Highlights
  • This is Sunpower’s 1st transaction in the Renewable Energy sector.
  • This is Sunpower’s largest (disclosed) transaction.
  • This is Sunpower’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2010-02-11
Target SunRay Renewable Energy
Sector Renewable Energy
Buyer(s) Sunpower
Sellers(s) Denham Capital
Deal Type Add-on Acquisition
Deal Value 277M USD

Target

SunRay Renewable Energy

London, United Kingdom
SunRay Renewable Energy is engaged in the development of a portfolio of solar energy projects, including both solar parks and rooftop installations, across Europe and the Mediterranean. The solar plants will take advantage of European Union incentives to produce clean electricity from solar power with zero emissions of greenhouse gases.

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Buyer(S) 1

Buyer

Sunpower

Athens, Ohio, United States
Category Company
Sector Machinery
DESCRIPTION

Sunpower designs and develops high reliability cryocoolers and externally heated Stirling cycle engines. Its cryocoolers are used to lower temperatures below -150 degrees C without the use of expensive liquid nitrogen, while its heat engines are used in micro co-generation (heat and power) devices.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Denham Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 9.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 5 of 22
Sector (Renewable Energy) 1 of 5
Type (Add-on Acquisition) 2 of 12
Country (United Kingdom) 1 of 1
Year (2010) 2 of 4
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Midway United Unlimited

Wellesley Hills, Massachusetts, United States

Midway United is currently growing and building a world class processed wood platform that will position the company as a global wood products company. In addition to plywood mills under construction, the company owns sawmills, timber harvesting assets, and port rights in Russia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-06 Trinity Coal

Scott Depot, West Virginia, United States

Trinity is a growth-oriented coal producer in the Central Appalachian coal basin, operating a variety of surface and underground mines in southern West Virginia and eastern Kentucky. Trinity sells both steam and metallurgical coal to electric utilities, steel manufacturers, coal brokers, and other buyers primarily in the eastern United States.

Sell $600M
Mergr

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