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August 11, 2020

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August 10, 2020

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Energy & Sustainability M&A Activity – April 2019

Recent M&A Activity:

  • February 26, 2019: Tioga Midstream, a subsidiary of Summit Midstream Partners, has reached a definitive agreement to be acquired by Hess Midstream Partners for $90 million.

  • February 26, 2019: Direct Solar reached a definitive agreement to be acquired by SinglePoint, a subsidiary of Carbon Credit International, for an undisclosed amount. Single Point will pay Direct Solar and affiliate AI Live Transfers a total of $2.04 million for both companies. SinglePoint plans to utilize the companies’ strong market position to pitch cannabis businesses on the opportunity to save money and increase margins by lowering the cost of utilities through the use of solar.

  • February 28, 2019: Research Into Action was acquired by Opinion Dynamics for an undisclosed sum. With the acquisition, Opinion Dynamics adds seasoned energy research professionals to its team, allowing it to continue to provide cutting edge research approaches to its clients and enabling its senior staff to continue to focus on answering questions its clients are asking about emerging issues.

  • March 1, 2019: Rio Verde Utilities was acquired by EPCOR Utilities for an undisclosed amount. This acquisition will help EPCOR Utilities expand its footprint as Arizona's largest regulated water and wastewater provider.

  • March 4, 2019: Somerset Gas Gathering of Pennsylvania was acquired by Pin Oak Energy Partners for an undisclosed amount. The acquisition will add to Pin Oak Energy Partners’ growing portfolio of midstream assets.

  • March 7, 2019: The Bakken water services business of Hess was acquired by Hess Midstream Partners for $225 million.

  • March 7, 2019: Geronimo Energy reached a definitive agreement to be acquired by National Grid for $100 million.

  • March 11, 2019: The Weidt Group, a subsidiary of EYP Architecture & Engineering, was acquired by Willdan Group for an undisclosed sum. The acquisition will help Willdan Group to expand its geographic footprint into the upper Midwest of the United States where there is a growing demand for energy-efficiency services.

  • March 18, 2019: ASA Analytics was acquired by In-Situ on for an undisclosed amount. The acquisition expands In-Situ's ability to serve process applications including municipal and industrial wastewater, drinking water, and other industrial water process markets.

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About this Author

Member / Chair, Energy & Sustainability Practice

Tom Burton’s zeal for innovation and passion for energy and sustainability have shaped the clean energy industry. He created one of the nation’s first clean energy legal practices. Clients ranging from investors to entrepreneurs to Fortune 100 companies rely on him for creative and strategic legal solutions, and he has completed hundreds of venture capital and private equity financings, mergers and acquisitions, and IPOs. He guides the industry’s next generation of leaders through active involvement with start-up organizations and accelerators. The Northeast Clean Energy Council recognized...

Sahir Surmeli Energy & Sustainability Attorney Mintz Levin

Sa is a highly skilled and versatile 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. Sa guides public and private companies and investors, primarily in the energy and sustainability, technology, materials science, hospitality, retail and life sciences industries. Known as a problem-solver, Sa executes transactions with creative structures to address new opportunities in finance and development of new markets by clients in partnership with global corporations. He also helps entrepreneurs secure financing, commercial agreements and partnerships.

Sahir represents emerging growth and established energy technology, information technology, life sciences and retail companies, investors and investment banks in public offerings, 144A offerings and other private financings, mergers & acquisitions, joint ventures and strategic partnerships. Sa is listed among the Top 100 Cleantech & Renewables Lawyers by Euromoney’s LMG Cleantech & Renewable Energy. He was also named a Massachusetts Super Lawyer in 2014, 2015, 2016 and 2017.

Sa is a senior member of the firm’s Securities Practice Group and Technology Practice Group and serves as Co-chair of the firm's Energy & Sustainability Practice. The firm’s Energy & Sustainability Practice has completed more than 500 transactions across energy sectors totaling over $8.5 billion since 2006. Serving more than 250 clients, spanning the ecosystem from emerging companies to large corporations, venture capital and private equity funds, investment banks, project developers, and family offices, the firm is recognized nationally as a leading law firm in the space.

Sa has worked on a wide variety of capital-raising projects, including equity, debt, syndicated loan, strategic investment and structured finance offerings, with aggregate proceeds of more than $10.6 billion. He has extensive experience in corporate finance and securities law as well as mergers and acquisitions. Sa represents issuers, underwriters, initial purchasers, and placement agents in public and private equity offerings, debt offerings (particularly high-yield, but also investment grade), bank financings, leveraged buyouts, securitizations, and related transactions as well as private equity funds in leveraged buyouts. He is also a key contributor to MintzEdge, an online resource for entrepreneurs that includes useful tools and information for starting and growing a company.

Sa has an MBA in corporate finance and focuses on adding value in complex financing structures and helping younger companies navigate the challenges of the public and private markets. He handles projects in a broad range of sectors, including energy and clean technology, information technology, telecommunications, materials technology, biotech, aerospace, semiconductor, retail and hospitality. He also has extensive international experience — he previously practiced in New York, Tokyo, and Hong Kong and now works from the Boston office of Mintz. He has represented clients in the United States, Australia, Canada, China, France, Germany, Japan, Korea, the Netherlands, Turkey, the United Kingdom, and elsewhere.