M&A Deal Summary

ThermoEnergy Acquires CASTion

On July 2, 2007, ThermoEnergy acquired environmental company CASTion from Davenport Resources

Acquisition Highlights
  • This is ThermoEnergy’s 1st transaction in the Environmental sector.
  • This is ThermoEnergy’s 1st transaction in the United States.
  • This is ThermoEnergy’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2007-07-02
Target CASTion
Sector Environmental
Buyer(s) ThermoEnergy
Sellers(s) Davenport Resources
Deal Type Add-on Acquisition

Target

CASTion

Worcester, Massachusetts, United States
CASTion Corporation pioneers a patented closed loop water purification system, which economically recovers over 99% of the waste metals and the water in metal processing industries for immediate reuse.

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Buyer(S) 1

Buyer

ThermoEnergy

Worcester, Massachusetts, United States
Category Company
Founded 1988
Sector Environmental
Employees24
Revenue 3M USD (2013)
DESCRIPTION

ThermoEnergy develops and markets municipal and industrial wastewater treatment and carbon reducing power generation technologies worldwide. ThermoEnergy was founded in 1988 and is based in Worcester, Massachusetts.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1

Seller(S) 1

SELLER

Davenport Resources

Norwalk, Connecticut, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Davenport Resources is a private equity firm that makes early and expansion stage venture capital investments in technology and energy opportunities. Areas of interest include clean technologies, infrastructure, and renewable power development. In addition to investing in renewable and clean power generation, Davenport also manages private equity funds for investors interested in clean energy and makes direct investments for its own account in the US and Europe. Davenport Resources was formed in 1995 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 3 of 4
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 3 of 3
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 Demegen

Pittsburgh, Pennsylvania, United States

Demegen designs unique peptides for attacking cancer, viruses and bacteria.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-28 Halite Energy Group

Kirkham, United Kingdom

Halite Energy Group Ltd. engages in the development, operation, and management of salt cavern gas storage facilities in the United Kingdom. Halite Energy Group is based in Kirkham, United Kingdom.

Sell -
Mergr

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