M&A Deal Summary

World Energy Acquires AltAir Fuels

On March 19, 2018, World Energy acquired energy services and equipment company AltAir Fuels from New Energy Capital and Vandewater Capital Holdings

Acquisition Highlights
  • This is World Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is World Energy’s 1st transaction in the United States.
  • This is World Energy’s 1st transaction in California.

M&A Deal Summary
Date 2018-03-19
Target AltAir Fuels
Sector Energy Services and Equipment
Buyer(s) World Energy
Sellers(s) New Energy Capital
Vandewater Capital Holdings
Deal Type Add-on Acquisition

Target

AltAir Fuels

Paramount, California, United States
AltAir Fuels develops and operates projects for the production of low carbon fuels and chemicals derived from sustainable feedstocks. The company is a refiner of environmentally sustainable feedstocks for the production of jet and diesel fuels. AltAir’s initial facility is the world’s first renewable fuels refinery with integrated jet fuel production capability. AltAir Fuels was founded in 2008 and is based in Paramount, California.

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Buyer(S) 1

Buyer

World Energy

Boston, Massachusetts, United States
Category Company
Founded 1998
Sector Oil/Gas Exploration
DESCRIPTION

World Energy LLC is a producer and distributor of low carbon fuels including biodiesel and renewable diesel. The company is a supplier of biodiesel offering over 200 Million gallons (660,660 Metric Tons) of annual biodiesel production. World Energy was formed in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-28 BIOX

Hamilton, Ontario, Canada

BIOX produces biodiesel, a renewable, non-toxic and environmentally friendly fuel that can be used in any unmodified diesel engine. The BIOX process is a new low-cost method to produce biodiesel fuel from a wide variety of agricultural feedstocks.

Buy -

Seller(S) 2

SELLER

New Energy Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2004
Size Small
Type Sector Focused
DESCRIPTION

New Energy Capital is a private investment firm focused on acquiring and investing in renewable energy projects. New Energy looks for controlling interests in biomass, including landfill gas and animal waste-to-energy projects; combined heat and power projects at commercial and industrial facilities; and ethanol and biodiesel projects. New Energy looks for North American opportunities requiring $20 to $200 million of capital. New Energy Capital is based in Hanover, New Hampshire.

DEAL STATS #
Overall 4 of 6
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (California) 1 of 2
Country (United States) 4 of 6
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-11 FLS Energy

Asheville, North Carolina, United States

FLS Energy, Inc. is a full service solar energy provider that owns and operates a portfolio of solar energy assets throughout the U.S. FLS development team takes projects from conception to commissioning and offers complete in-house system design, engineering, construction, financing and turnkey project development.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-25 Clean Energy Collective

Carbondale, Colorado, United States

Clean Energy Collective (CEC) is a developer of community solar solutions. Clean Energy Collective was founded in Carbondale, Colorado.

Sell -
SELLER

Vandewater Capital Holdings

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Vandewater Capital is a private investment group focused on start-ups and established companies. Sectors of interest include technology, financial services, sustainable energy, mobile services and real estate. Vandewater Capital was formed in 2008 and is based in New York City.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-22 Xsight Systems

Rosh Haayin, Israel

Xsight Systems is a developer and provider of advanced runway sensor solutions. Xsight Systems has developed an advanced runway management solution that is improving the day-to-day operation of the runways whilst increasing runway safety, capacity and efficiency. The flagship technology, RunWize, based on FODetect, is a unique solution collocated with runway edge lights and utilizes a combination of millimeter-wave radar and image processing to best detect FOD, birds, wildlife, and monitor runway condition and activity. Xsight Systems was founded in 2005 and is based in Rosh Haayin, Israel.

Buy -
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