M&A Deal Summary |
|
|---|---|
| Date | 2022-09-12 |
| Target | Spruce Power |
| Sector | Renewable Energy |
| Buyer(s) | XL Fleet |
| Sellers(s) | HPS Investment Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 59M USD |
| Advisor(s) | Guggenheim Securities (Financial) |
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| Category | Company |
|---|---|
| Founded | 2009 |
| Sector | Automotive |
| Employees | 59 |
| Revenue | 20M USD (2020) |
XL Fleet engages in vehicle electrification solutions for commercial and municipal fleets in North America, relied on by customers such as The Coca-Cola Company, Verizon, Yale University, and the City of Boston. With its fleet-ready XLH hybrid electric drive system and the XLP plug-in hybrid electric drive system, Class 2 to 6 commercial and municipal customers can increase fuel economy by up to 25-50 percent and reduce carbon dioxide emissions by up to 20-33 percent, decreasing operating costs and meeting sustainability goals with no impact on fleet operations. XL Fleet was founded in 2009 and is based in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 3 |
| Sector (Renewable Energy) | 1 of 1 |
| Type (Add-on Acquisition) | 2 of 2 |
| State (Texas) | 1 of 1 |
| Country (United States) | 3 of 3 |
| Year (2022) | 1 of 1 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-05-17 |
World Energy Efficiency Services
Worcester, Massachusetts, United States World Energy Efficiency Services operates throughout New England and within over 16 different efficiency, electric vehicle charging station, and commercial solar programs. With the addition of their electric vehicle charging station and commercial solar offerings, World Energy Efficiency Services provides the most comprehensive energy solution packages in the industry. World Energy Efficiency Services was founded in 2015 and is based in Worcester, Massachusetts. |
Buy | $16M |
| Category | Lender |
|---|---|
| Founded | 2007 |
| PE ASSETS | 104.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
HPS Investment Partners is a global investment firm that seeks to provide capital solutions clients. The Firm manages various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine investments, asset-based leasing and private equity. The Firm looks to invest in companies large and small, through standard or customized solutions. HPS was formed in 2007 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 2 of 2 |
| Sector (Renewable Energy) | 2 of 2 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (Texas) | 1 of 1 |
| Country (United States) | 2 of 2 |
| Year (2022) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-07-03 |
Cypress Creek Renewables
Santa Monica, California, United States Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20MW AC in capacity. Cypress Creek Renewables was founded in 2014 and is based in Santa Monica, California. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-09-15 |
OneTeam Partners
Washington, District of Columbia, United States OneTeam Partners provides athletes to maximize the value of their name, image, and likeness rights. OneTeam will manage and further commercialize player intellectual property, beginning with established franchises in video games and trading cards. OneTeam Partners was established in 2019 and is based in Washington, District of Columbia. |
Buy | - |
