M&A Deal Summary

Telkonet Acquires Smart Systems International

On March 15, 2007, Telkonet acquired technology hardware company Smart Systems International from GFI Energy Ventures and Oaktree Capital Management for 7M USD

Acquisition Highlights
  • This is Telkonet’s 1st transaction in the Technology Hardware sector.
  • This is Telkonet’s largest (disclosed) transaction.
  • This is Telkonet’s 1st transaction in the United States.
  • This is Telkonet’s 1st transaction in Nevada.

M&A Deal Summary
Date 2007-03-15
Target Smart Systems International
Sector Technology Hardware
Buyer(s) Telkonet
Sellers(s) GFI Energy Ventures
Oaktree Capital Management
Deal Type Add-on Acquisition
Deal Value 7M USD

Target

Smart Systems International

Las Vegas, Nevada, United States
Smart Systems International, Inc. is a designer and marketer of intelligent energy management systems principally for heating and air conditioning control in commercial and residential buildings, including guest rooms in hotels, public housing projects, condominiums, schools, and office buildings. The SSI system uses a motion detector to determine when a room is vacant, then employs a sophisticated algorithm along with other thermodynamic sensing devices to determine how far the room's temperature can be allowed to vary from the thermostat setting while still permitting restoration to the desired temperature within a prescribed number of minutes from the time the room is reoccupied.

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Buyer(S) 1

Buyer

Telkonet

Milwaukee, Wisconsin, United States
Category Company
Founded 1977
Sector Energy Services and Equipment
Employees99
Revenue 12M USD (2012)
DESCRIPTION

Telkonet, Inc. offers EcoSmart energy management technology as well as EthoStream high-speed Internet access solutions. Both product lines satisfy Telkonet's commitment to product innovation and technological expertise, and have been installed in several hundred thousand rooms worldwide.

DEAL STATS #
Overall 1 of 1
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-29 EthoStream

Milwaukee, Wisconsin, United States

EthoStream LLC is a provider of High Speed Internet Access technologies for the Hospitality, Student Living, and MDU/MTU markets. EthoStream prides itself on professional network design, installation, certification and support. Its cloud management platform connects and support over 40 million users annually and provides owners and operators with key insight into their networks. EthoStream is headquartered in Milwaukee, Wisconsin and has offices throughout the United States. EthoStream, LLC was founded in 2001 and is headquartered in Milwaukee, Wisconsin.

Sell -

Seller(S) 2

SELLER

GFI Energy Ventures

Los Angeles, California, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.

DEAL STATS #
Overall 14 of 30
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 11 of 18
State (Nevada) 1 of 1
Country (United States) 12 of 28
Year (2007) 1 of 2
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-03 SPL WorldGroup

San Francisco, California, United States

SPL WorldGroup, Inc. is a provider of customer management solutions to the energy and service related industries in regulated and competitive markets worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-02 Elgin Power and Separation Solutions

Downers Grove, Illinois, United States

Elgin Power and Separation Solutions is a manufacturer of custom-engineered process equipment and replacement parts primarily for the coal processing, mining & minerals, and oil & gas industries. Elgin Power and Separation Solutions was established in 1864 and is based in Downers Grove, Illinois.

Buy -
SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1995
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.

DEAL STATS #
Overall 19 of 77
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 13 of 31
State (Nevada) 1 of 3
Country (United States) 17 of 53
Year (2007) 2 of 5
Size (of disclosed) 17 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-12 Elgar Electronics

San Diego, California, United States

Elgar Electronics Corp. is a designer and manufacturer of AC and DC programmable power supplies, Elgar's products are used in designing and testing power-sensitive electronics that must operate in environments where power quality is uncertain.

Sell $108M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-19 Alliance HealthCare Services

Newport Beach, California, United States

Alliance HealthCare Services is a provider of shared-service and fixed-site diagnostic imaging services. Alliance provides comprehensive turnkey solutions to hospitals and other health providers for MRI, PET, CT and Radiation Oncology Systems. Alliance HealthCare Services was founded in 1983 and is based in Newport Beach, California.

Buy -
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