Dynastar Ventures to acquire My Affordable Energy

February 17, 2011 — Fusion DigiNet

Dynastar Ventures (www.dynastarventures.com), a direct selling company focused on the sale of electricity and natural gas services to commercial and residential customers, is acquiring My Affordable Energy, a Texas-based direct selling company focused on selling energy services.

“The acquisition of My Affordable Energy’s business is the launch pad for Dynastar’s entry into the energy services business through our proven direct sales and operational infrastructure,” stated Josh Henderson, Chairman and CEO of Dynastar.  “The deregulation of energy services over the past few years is very similar to what entrepreneurial telecommunications providers experienced in the 1990’s.  The decision to break up AT&T on a national basis is comparable to incumbent energy providers being deregulated to sell electricity and natural gas on a wholesale basis to our Regional Energy Providers.

Historically, the notion of “choice” from whom you purchase energy services was non-existent.  As a result prices were fixed and regulated. Deregulation has opened a new door to selling competitively priced energy services that many people were not aware existed.  Dynastar is positioning itself as the premier leader with a direct sales model to acquire energy services customers initially in Texas, Pennsylvania and New York and soon in many more states.”

USA, Louisville, KY & USA, Houston, TX

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Platts to acquire OPIS (update – deal terminated)

February 15, 2011 — Fusion DigiNet

Update February 15, 2011: UCG is no longer selling its wholly-owned subsidiary, Oil Price Information Service, LLC (OPIS), to Platts, a division of the McGraw-Hill Companies. Apparently UCG terminated the agreement.

Platts, a leading global provider of energy and metals information and a division of The McGraw-Hill Companies, today announced an agreement to acquire Oil Price Information Service, (OPIS) from United Communications Group (“UCG”), a privately held business information provider.  OPIS, which is headquartered in Gaithersburg, Maryland, is a leading provider of news and price information to the wholesale and retail petroleum markets in North America. The purchase price was not disclosed. The acquisition is expected to be completed in the first half of 2011, subject to regulatory approval.

“OPIS is a great complement to Platts.  It supports our growth strategy by expanding our presence in North America and extending our price reporting into the wholesale and retail petroleum markets,” said Larry Neal, president of Platts.  “The combination of Platts and OPIS data will bring greater transparency to the markets by giving customers greater insight into the petroleum supply chain – from crude trading to retail sales.”

Neal added that Platts expects to maintain OPIS’ products and services. “We intend to build on OPIS’ respected position in the market, its track record in product development, talented staff and committed customer base to enhance the value of its offerings and serve a larger audience.”

OPIS CEO Brian Crotty said, “We are delighted to join forces with a firm that is so well-respected within the energy industry.  With the credibility and resources of Platts and McGraw-Hill behind us, we will be able to expand our product and service offerings to customers and develop new ways to serve the energy information markets.”

Founded in 1977, OPIS provides posted prices for more than 400 wholesale terminals and retail fuel prices for over 120,000 gas stations.  In addition to serving the rack and retail markets, it produces 4,000 price assessments for seven U.S. spot markets.  Its broad customer base includes refiners, traders, brokers, large end-users, suppliers, wholesalers, fleets and consumers.  The company maintains a database of more than five billion historical spot, rack and retail prices and delivers the majority of its news and pricing information to customers electronically.

USA, New York, NY & Gaithersburg, MD

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Advantage IQ to acquire Building Knowledge Networks

January 27, 2011 — Fusion DigiNet

Advantage IQ, a provider of strategic energy management solutions has entered into an agreement to acquire Building Knowledge Networks, a Seattle-based real-time building energy management services provider.

Under the terms of the acquisition agreement, Building Knowledge Networks will be fully integrated and operated as Advantage IQ.  The transaction has been funded by Advantage IQ and is expected to be neutral to earnings in 2011, as revenues are approximately $1 million for the 12 months ending Dec. 31, 2010.  Advantage IQ President and Chief Executive Officer Jeff Heggedahl will continue to lead the organisation, and Building Knowledge Networks founders Jay Marshall and Mike Willson will maintain leadership roles in furthering the development of this offering.

“Building management systems are rich with data, yet businesses are finding that this data is often difficult to acquire, aggregate, interpret and leverage toward actionable energy management,” said Heggedahl. “By acquiring Building Knowledge Networks, we are taking the next logical step to provide our clients with real-time connectivity to their building systems, empowering them with the data and analytics they need to make good business decisions that reduce costs while improving operations and reducing overall environmental impact.”

“Building Knowledge Networks was formed in 2003 to provide commercial building owners with analysis services that optimize building systems, reduce energy expenditures and improve operations management,” said Mike Willson, co-founder of Building Knowledge Networks. “There is a focus on technology to improve environmental design in the development of new buildings, yet there is a need for businesses to reduce energy use in existing, older buildings. We share Advantage IQ’s mission to provide businesses with the counsel and information needed to reduce energy consumption and costs.”The effective management of commercial building systems is a critical component of lowering overall energy demand in the United States and globally. According to the U.S. Energy Information Administration, there are 4.8 million commercial buildings in the U.S. that use $107.9 billion in energy annually. The U.S. Environmental Protection Agency’s ENERGY STAR program cites that 30 percent of the energy spent by commercial and industrial  buildings is being used inefficiently or unnecessarily.

Advantage IQ is a subsidiary of Avista Corp. (NYSE: AVA)

USA, Spokane, WA & Seattle, WA

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Building Energy Management Solutions provider BAS acquired in MBO backed by Bridgepoint Development Capital

January 27, 2011 — Fusion DigiNet

Here is a deal we missed last month

BAS, the largest independent player in the long term support and implementation of intelligent building energy management systems in the UK, has been acquired by Bridgepoint Development Capital for an undisclosed sum.

Founded in 2006 following a buyout from Siemens, BAS specialises in supporting building owners to control, monitor and reduce energy usage via the efficient use of a ‘building energy management system’ (BEMS). The latter is a computer-based control system that controls and monitors the building’s mechanical and electrical equipment to enable occupants to work in a comfortable environment whilst reducing energy usage and associated costs.

BAS typically has long term recurring contracts with clients to support an installed BEMS or undertakes project-based work concerning BEMS upgrades as well as the design and commissioning of new energy management systems.

The broad energy management sector which BAS serves benefits from a combination of powerful legislative drivers compelling businesses to reduce their energy usage and associated carbon footprint, rising energy prices and the increasing need to make more efficient use of scarce energy resources.

According to BAS managing director Brin Sheridan, with backing from Bridgepoint Development Capital, the company is now well-positioned to continue to grow its core support business as well as invest meaningfully in its current energy management solutions offer.

“There is a clear opportunity for BAS to grow its core support and project work where we are already a significant player. In addition, BAS will increasingly become more involved in helping companies design and deliver their broad energy objectives as part of the larger energy management market, using our proprietary software to capture data and informing customers to take more operationally focused decisions about their energy policy.”

“With an investor such as BDC alongside management and the original founders, we now have the support and capital to accelerate our growth aspirations” he said.

The core BEMS market is estimated to be worth over £500 million a year in the UK and is forecast to grow 6% per annum on the back of system support and upgrades. The broader energy management market is estimated to be worth in excess of £2 billion a year.

Alan Payne, a partner at Bridgepoint Development Capital, said: “Investing in BAS represents an opportunity to invest in the fast-growing market for energy management, backing a proven team at a time when market growth is being driven partly by new energy legislation but also by an increasing business awareness of energy efficiency.”

Debt for the transaction was provided by Yorkshire Bank Corporate and Structured Finance. Advisers involved in this transaction included: – for Bridgepoint Development Capital – Dow Schofield Watts (corporate finance), Travers Smith (legal), Ernst & Young (financial due diligence), CIL (commercial due diligence), Investec (valuation); for the bank – Addleshaws (legal); for the vendor – Laytons (legal).

UK, Altrincham

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Demand for media IPOs growing – Demand Media and Nielsen shares soar above their IPO prices

January 27, 2011 — Fusion DigiNet

Nielsen Holdings and Demand Media rallied on Wednesday in their trading debuts, signalling that demand for media-related IPOs was building.

Nielsen’s shares rose 8.7 percent from its initial public offering price, and Demand Media’s shares rose 33.2 percent.

Nielsen’s IPO, the biggest of the two, is the first of what is expected to be a rush of big private equity-backed IPOs in 2011. Nielsen raised $1.6 billion on Tuesday, nearly a tenth more than expected.

Read the full story here

USA, New York, NY & Santa Monica, CA

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The Nielsen Company announces the pricing of Its Initial Public Offering

January 26, 2011 — Fusion DigiNet

Nielsen Holdings N.V. has priced its initial public offering of 71,428,572 shares of its common stock at $23.00 per share. The Nielsen Company’s shares of common stock are expected to begin trading today, January 26, on the New York Stock Exchange under the ticker symbol “NLSN.” The Nielsen Company has also priced its concurrent offering of $250 million in aggregate principal amount of mandatory convertible subordinated bonds, which will be mandatorily convertible into shares of The Nielsen Company’s common stock on February 1, 2013. The bonds will bear interest at a rate of 6.25% per annum, and the conversion rate per $50.00 principal amount of bonds will be between 1.8116 and 2.1739, depending on the market value of The Nielsen Company’s common stock, subject to customary anti-dilution adjustments.

In the initial public offering, The Nielsen Company will sell 71,428,572 shares of common stock. The IPO’s underwriters have a 30-day option to purchase up to 10,714,286 of additional shares of common stock from The Nielsen Company at the initial public offering price less the underwriting discount. In the bond offering, The Nielsen Company will sell an aggregate principal amount of $250 million of bonds. The underwriters of the bond offering have a 30-day option to purchase up to an additional $37.5 million in aggregate principal amount of bonds from The Nielsen Company at the initial public offering price less the underwriting discount.

The Nielsen Company will receive net proceeds of approximately $1,560 million from the initial public offering of its common stock and approximately $240 million from the bond offering after payment of commissions and estimated expenses. The Nielsen Company intends to use the proceeds to repay a portion of its outstanding indebtedness and to pay an advisory agreement termination fee to its current owners.
J.P. Morgan, Morgan Stanley, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co. and Citi are serving as joint book-running managers for both offerings, with BofA Merrill Lynch, William Blair & Company, Guggenheim Securities, Wells Fargo Securities, Blaylock Robert Van, LLC, HSBC, Loop Capital Markets, Mizuho Securities USA Inc., Ramirez & Co., Inc. and The Williams Capital Group, L.P. are acting as co-managers.

USA, New York, NY

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EnerNOC acquires M2M Communications

January 26, 2011 — Fusion DigiNet

EnerNOC, Inc. has acquired M2M Communications, a provider of wireless technology solutions for energy management and demand response. M2M manages hundreds of megawatts of demand response capacity throughout the United States and has contracts with leading utilities including Pacific Gas and Electric, Idaho Power, PacifiCorp, Midwest Energy, and National Grid, among others. Founded in 2003 in Boise, Idaho, M2M’s pioneering wireless technology and automated demand response solutions have enabled the company to bring hundreds of megawatts of demand response capacity online rapidly and cost-effectively.

“M2M’s technology expertise and its contracts with key utilities — particularly in California and the Midwest — are an ideal complement to EnerNOC’s suite of offerings for utility, commercial, and industrial customers,” said Tim Healy, EnerNOC Chairman and CEO. “M2M has the unique ability to tap into largely un-penetrated markets, such as demand response at agricultural facilities, which represents more than 10,000 megawatts of DR potential in the United States and even more worldwide.”

In California, M2M is the largest third-party provider of automated demand response and is experienced in the agricultural demand response market. M2M has established a Fresno office and teamed with multiple utilities and the US Department of Energy to create the Peak Energy Agriculture Rewards (PEAR) program. PEAR focuses on the rapid enablement of demand response capacity provided by large irrigators, cold storage operators, and food and beverage processors. The market for agricultural demand response in California alone is over 1,000 megawatts, largely from thousands of irrigation pumps that can be curtailed throughout the Central Valley, a region that produces approximately eight percent of the nation’s agricultural output.

“We’re excited to join forces with the world’s premier demand response company,” said Steve Hodges, M2M Founder and President. “We were attracted to EnerNOC’s market reach, exceptional performance record, and intelligent suite of energy management offerings. Combining these attributes with M2M’s technology will surely drive the adoption of exciting demand response programs in new regions and more vertical markets.”

EnerNOC, already one of the world’s largest providers of third-party automated demand response, expands its portfolio of automated resources with this acquisition. EnerNOC also recently joined the OpenADR Alliance and, as previously reported on DigiNet, acquired AutoDR program implementation business Global Energy Partners.

“M2M is a technology innovator and trusted partner that helped us launch a turn-key demand response program that requires very limited field support,” said Michael Volker, Director of Regulatory & Energy Services at Midwest Energy, which serves nearly 90,000 electric and gas customers in 40 Kansas counties. “Our program will be growing for years to come. EnerNOC and M2M will be a great team because both organizations have built a reputation based on a very successful, customer-centric approach.”

“As the demand response market continues to grow and mature, having the right technology and industry expertise across a wide-variety of vertical markets becomes increasingly important,” said Rick Nicholson, Vice President IDC Energy Insights. “Demand response solution providers that offer an array of solutions, from automated to manual dispatch and blended solutions in between, will continue to see success in this market.”

EnerNOC anticipates this acquisition to be neutral to dilutive in 2011 and accretive in 2012.

USA, Boston, MA & Boise, ID

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ZBB Energy acquires Tier Electronics

January 25, 2011 — Fusion DigiNet

ZBB Energy Corporation has acquired the Wisconsin-based power electronics firm Tier Electronics, LLC for a $1.35 million promissory note paid over 3 years, 800,000 shares of common stock and assumption of approximately $900,000 of liabilities including customer deposits of approximately $350,000. This acquisition expands ZBB’s product portfolio of power management systems, customer base, and served market. In addition, the transaction is expected to be accretive to operating cash flows and more than double the company’s backlog and expected annual revenue. With the Tier acquisition, ZBB offers a full range of energy storage, utilisation and management solutions that range from wind and solar converters to power quality, micro-grid systems and hybrid electric drives for vehicles. The resulting strategic plan will seize on expansive opportunities across the power management market and enable high growth.

“This is a game changer for us,” said Eric Apfelbach, ZBB’s President and CEO. “When it comes to renewable energy, we now have the capability to store it, use it and manage it over a wide range of powers and applications. From intelligent, modular sub assemblies to nodes on micro grids through smart grid applications greater than 1 MW, ZBB is positioned to be the price and performance leader in grid modernization power electronics technologies.”

ZBB Energy was founded in 1998 and is headquartered in Wisconsin with offices also located in Perth, Western Australia.

USA, Milwaukee, WI

 

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zouk ventures and Scottish and Southern Energy join forces to build an energy efficiency solutions company, Anesco

January 25, 2011 — Fusion DigiNet

One we missed in December.

Clean technology investor zouk ventures is partnering with Scottish and Southern Energy to build an energy efficiency and micro-generation solutions company in the UK named Anesco. zouk and SSE will be co-lead investors in the deal and will each take a Board seat in the company. Each will acquire a 40% stake. The remaining 20% stake will be owned by the Anesco management team, led by chief executive Adrian Pike and chief operating officer Tim Payne, both of whom previously held senior management positions in SSE Contracting.

zouk and SSE believe that Anesco will be well placed to exploit the strong regulatory and governmental support that exists in the UK for the shift to a low carbon, energy-secure economy. Initiatives such as the Clean Energy Cash Back, Renewable Heat Incentive and the recently announced Green Deal have created an enormous opportunity for specialists in this sector.

Anesco will provide energy efficiency and micro-generation solutions to domestic and commercial customers. These solutions will cover a broad range of technologies and areas, including solar power, renewable heating, insulation, as well as other energy efficiency measures, including lighting and building energy management systems. In addition, Anesco will also provide energy services to businesses, including energy efficiency consultancy and a range of ongoing energy monitoring solutions.

UK, Berkshire

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Energy efficiency software company Scientific Conservation raises $15.65M

January 20, 2011 — Fusion DigiNet

Scientific Conservation Inc.(SCI), a leading provider of energy efficiency via Predictive Diagnostics and Analytics solutions for the $5 billion commercial building market, today announced the successful completion of $15.65M Series B funding led by Internet Pioneer, Barry Schuler, Managing Director, DFJ Growth Fund, bringing the total raised for the company to $24.65M. This round also includes follow on investment by DFJ Ventures and The Westly Group. Schuler will also become an SCI Board Member.

‘This is a very exciting time for SCI. These resources position the company well for continued success in product innovation and accelerated revenue growth with a breakthrough customer centric focus,’ said Russ McMeekin, CEO, Scientific Conservation Inc. ‘We greatly appreciate the confidence and support from Barry, and our existing investors at DFJ and The Westly Group.’

‘SCI is ushering in a new standard of energy management diagnostics and analytics for buildings. This funding underscores a strong year of milestones for SCI and global momentum for clean energy technologies that save money and protect the environment,’ said Schuler.

USA, San Francisco, CA

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