Energy & Sustainability M&A Activity — September 2024

By Thomas R. Burton, III, Sahir Surmeli

August 01, 2024: SEAM Group, a B2B business products and services company that provides safety, reliability, maintenance, and enterprise asset management services in the hospitality, food processing, and pharmaceutical industries, was acquired by ABB for an undisclosed amount. The acquisition will complement ABB’s electrification service offering, bringing significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance, electrical safety, renewables, and asset management advisory services. Read more here.

August 05, 2024: Blue Raven Solar, a subsidiary of SunPower and provider of solar energy system installation services intended to increase reliance on clean and abundant renewable energy, reached a definitive agreement to be acquired by Complete Solaria for an undisclosed amount. Previously, the company was acquired by SunPower, a subsidiary of TotalEnergies, for an estimated $145 million on October 4, 2021. This acquisition will contribute to the goal of creating a cost-competitive solar powerhouse. Read more here.

August 12, 2024: SRE Power, an energy services and cleantech company that specializes in offering a heavy-duty engine powered by hydrogen gas and engages in developing innovative HyOrc technology for use in decarbonizing various industries was acquired by Asia Properties for $72 million. The patented HyOrc engine is poised to disrupt the EV & fuel cell powertrain sector with its unparalleled efficiency, zero emissions, extended range, and unmatched cost-effectiveness. Read more here.

 

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    Energy & Sustainability Connections Newsletter — September 2024

    September 3, 2024| Article|

    Authors

    Thomas R. Burton, III

    Member / Chair, Energy & Sustainability Practice

    Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.

    Sahir Surmeli

    Member / Co-chair, Energy & Sustainability Practice

    Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.