TRANSACTIONS
Recently Closed Energy Transactions
CST Utilities is an underground utility service provider based in Columbus, OH. A significant portion of CST's business is assisting its utility clients (electric, gas, water) in replacing their aging and deteriorating "grid" networks in the Midwestern United States.
CST was recapitalized by New York-based private equity group, MFG Partners, in 2022. Dragonfly Capital represented CST and facilitated this transaction.
AMP Energy / AMP Solar Group is a global renewable energy infrastructure manager, developer and owner based in Toronto, Canada.
AMP closed on a minority transaction with Washington, DC private equity group, The Carlyle Group's Renewable & Sustainable Fund and Global Infrastructure Opportunity Fund in 2021. Dragonfly Capital represented AMP and facilitated this transaction.
Alchemy Renewable Energy is an industry leader in premium mid-size utility-scale renewable energy projects, including solar and biomass power generation, and based in Springfield, MO.
Alchemy formed a joint-venture partnership, Cardinal Renewables, with The Carlyle Group's Renewable & Sustainable Fund in 2020 to develop, acquire, finance, and operate solar power generation projects throughout the United States. Dragonfly Capital represented Alchemy and facilitated this transaction.
Horizon Solar Power has served as a premier designer and installer of residential and commercial solar systems in California since 2008. Horizon specializes in providing customized solar systems that precisely fit its customer's home, energy and savings goals.
Sale of Horizon Solar Power to Oaktree Capital
Posigen Inc. a solar company of about 200 people based in New Orleans that pairs energy-efficiency upgrades with solar-panel leases—all for no money down and monthly payments. PosiGen launched in New Orleans in 2011 and has since spread to three states, including Connecticut and New York. In its program, "Solar for Everyone," PosiGen offers the same package to homeowners whose roofs can handle solar.
Equity growth capital from New World Capital and Constellation Fund
Regenesis Power designs, engineers, finances, builds and operates solar-oriented solutions for both commercial and industrial companies in a broad range of sectors including agriculture, wineries, light industrial, oil recovery, auto retailers and large retailers. Regenesis developed the Stanton Solar Farm in Orlando, FL in partnership with Duke Energy and OUC.
Project finance of $50 million from Duke Energy.
SmartSynch Inc. is smart grid wireless communications and software developer. The Company has championed cellular networks for smart meters since the mid-2000s, first with commercial and industrial meters and then at the residential level.
Project finance from Duke Energy.
Power Partners, LLC is an electrical utility contractor specializing in wind farm electrical construction. The Company's service offering includes the construction of wind energy electrical infrastructure including underground collection systems, electrical service work at the base of, and inside, wind turbine structures.
Sale of Power Partners to MasTec, Inc. (MTZ)
AirDynamics, LLC is a project developer of Wind Farms in the Pacific Northwest. Wind Farm projects are located in Oregon, Idaho and Washington states. Management focuses on early stage development of the project up until the project finance stage.
Majority sale of AirDynamics to GaElectric of Ireland
Sterling Planet offers comprehensive carbon neutral solutions for businesses, universities and organizations of all types, bringing together supply and demand side solutions in a rapidly emerging environmental market. The company is developing next-generation solar and bioenergy projects to produce 'green power' and verified carbon offsets and is a U.S. Environmental Protection Agency Climate Leaders partner, committed to net zero greenhouse gas emissions from its business operations. Since 2001, sales of renewable energy to 928 business clients, 43 colleges and universities, 136 government agencies, 52 utilities and thousands of residential customers have avoided 25 billion pounds of carbon dioxide emissions.
Capital raise of $7 million.
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