US information industry M&A report shows deal value and volume Up 36%

January 7, 2011 — Fusion DigiNet

Berkery Noyes has released its 2010 Information Market M&A Trends Report. The report analyses merger and acquisition activity in the US Information Industry in 2010 and compares it with activity in the three previous years.

Highlights

  • Transaction volume in 2010 surpassed 2009 by 36 percent, climbing to 2,046 transactions.
  • Transaction value has increased by 36 percent as well, with $112 billion in aggregate acquisition value.
  • The median revenue and EBITDA multiple both increased over 2009, with the revenue multiple rising to 1.8 and the EBITDA multiple to 11.2, a 29 percent increase over the 8.7 of 2009.

“Multiples have started to make a return to pre-crisis levels,” said James Berkery, CIO of Berkery Noyes. “There are more deals happening and there are higher valuations. While we’re not at the levels we saw in 2007, I think we’re well on the road to recovery.”

Strategic acquirers have been the most common acquirer in the industry, yet financially sponsored transactions rose 39 percent by value over 2009 while losing 2 percent in volume over 2009. This trend of larger financially sponsored transactions is further evidenced by two of the top seven deals by value this year being made by financial acquirers: Interactive data Corporation’s acquisition by Warbug Pincus and Silver Lake Partners for $3.2 billion and Visma ASA’s acquisition by Kohlberg Kravis Roberts & Co. for $1.9 billion.

Google was not only the most active buyer in the information industry in 2010, with 28 acquisitions, but was also the most active buyer from 2007 through 2010, with 48 transactions during that time.

The largest transaction in 2010 was Intel Corporation’s announced acquisition of McAfee, Inc., for $7.55 billion.

To view the full report click here:

USA, New York, NY

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Kleinfelder acquires LPG Environmental & Permitting Services

January 6, 2011 — Fusion DigiNet

Kleinfelder has acquired LPG Environmental & Permitting Services, a firm headquartered in Orlando that offers a diverse set of environmental consulting services. The transaction closed on Dec. 31, 2010.

“We are pleased to join forces with a company that has such a strong reputation and record of excellence,” said Bill Siegel, PE, president and CEO of Kleinfelder. “LPG’s wealth of knowledge in environmental planning and permitting as well as their reputation for environmental responsibility will only serve to strengthen Kleinfelder’s ability to deliver turnkey services to clients across the nation.”

Steve Adams, president of LPG, added, “We are thrilled to be part of a national firm that shares our values and dedication to the environment, our employees, our clients and our industry. Kleinfelder will provide our clients global resources and a diverse set of services, knowledge and experience. As partners, we will work synergistically to continue providing the innovative solutions our respective clients have come to expect.” S E A Consultants to become part of Kleinfelder

LPG employs 20 people in three Florida locations: Orlando, Jacksonville and Lakeland. Their offerings include a diverse set of environmental planning and permitting services that are key to Florida, such as endangered species evaluations and wetland consulting. LPG will now operate under the Kleinfelder name, providing additional capabilities and resources that will foster growth in the southeast.

Kleinfelder has been executing a strategic growth plan since 1992. Kleinfelder’s 2015 strategic goals strive to further demonstrate the company’s role as a trusted adviser to its clients through ongoing training for employees, increased involvement with universities and associations, and a focus on technically challenging projects that strengthen the company’s environmental planning and permitting core competencies: National Environmental Policy Act and state-equivalent studies, transit-oriented developments with land-use linkages, and site-specific restoration and resource management incorporating a watershed/ecosystem approach.

USA, Orlando, FL

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Platts completes acquisition of BENTEK Energy

January 5, 2011 — Fusion DigiNet

Platts, a global provider of energy and metals information and a division of The McGraw-Hill Companies, Inc.  has completed for an undisclosed cash sum its acquisition of BENTEK Energy, LLC, a privately held energy market analytics company headquartered in Evergreen, Colorado. DigiNet first reported the acquisition on December 14, 2010. Bentek, which provides analytics and information services to a blue-chip customer base in North America, is widely recognized as the industry leader in natural gas market fundamental analysis.

“Bentek’s expertise in utilizing data modeling to provide clients with business-critical analytics and insights strengthens Platts’ analytical capabilities and enables us to enhance the content and value of our North American and European natural gas products,” said Larry Neal, president of Platts.  

Bentek will continue to operate under its current name with its current management.

USA, New York, NY & Evergreen, CO

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Energy Savvy raises $1.1 million

December 28, 2010 — Fusion DigiNet

EnergySavvy, closed a $1.1 million series A investment according to a report on TechCrunch quoting the company’s founder and chief executive Aaron Goldfeder. EnergySavvy’s web service helps homeowners to save money on utility bills and to use energy more efficiently.

NorthWest Energy Angels led the round, joined by several investors in the Pacific Northwest, including Geoff Entress, Andy Liu, and aQuantive alumni Mike Galgon and Karl Siebrecht (the latter two are on EnergySavvy’s board).

USA, Seattle, WA

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ENER-G acquires SmartHome Controls

December 23, 2010 — Fusion DigiNet

Lancashire based low carbon technology company ENER-G has acquired the business assets of SmartHome Controls.

SHC designs, manufactures, installs and maintains intelligent HVAC and lighting control systems to promote energy efficiency in high-end residential properties. The business will form part of the ENER-G Controls business. Gary Dowsett, director of business development and marketing at ENER-G Controls, will manage the enlarged business, supported by David Fryer, former owner of SHC, who will help to transfer operations and key staff from Uckfield, Sussex, to ENER-G Control’s office in Horsham, Sussex.

Commenting on the acquisition, Dr Cedric Rodrigues, managing director of ENER-G’s Energy Management Division said: “SHC has a strong customer and installer base, which is important for us to develop the considerable growth opportunities in the fast-expanding residential energy controls sector. We will be expanding our activity in both the new-build market as well as the retro-fit and upgrade sector.

“This transaction is part of ENER-G’s ongoing programme of targeted growth and will allow us to benefit from major synergies on a number of levels, including the development of control technology, installation of systems, remote monitoring, and servicing support from our specialist engineers. The solutions delivered by SHC to the high-end residential market are directly comparable with our commercial solutions, especially in sectors such as hotels and leisure. I am confident that this acquisition will add significant value to our business.”

UK, Lancashire & Sussex

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What is it like to sell your company?

December 18, 2010 — Fusion DigiNet

Fusion sold John Hall’s business last year. Here is John’s account of what it is like to sell your business.

I set up John Hall Associates in 1973 as an information service to advise UK industrial and commercial oil consumers on the different facets of commercial purchasing and to provide on-going market intelligence to enable them to stay ahead of the mainstream market.  In 1990 de-regulation of the UK electricity and gas markets was introduced and we extended our activities to provide commercial advice in these two sectors both directly and through a range of publications.  Within two years, our clients were asking us to take over procurement negotiations for them. In 1999 we started to follow the slow liberalisation process that had been promised for the EU market and by 2005 we were becoming established within the overall EU energy market; and were certainly in the top six of the four hundred consultancies in the UK

Over the years I had received a number of approaches from prospective acquirers of my company, but nothing that had appealed to me.  However, in 2006 a US company made a serious approach, following a discussion to set up a partnership with one of its subsidiary companies that provided similar service to its US clients in the same way that we did for our pan-European clients.  The fit between the two organisations was excellent and by the end of 2006, discussions were well advanced.  As we moved in to 2007, regulatory changes in the US caused the prospective purchaser to put all non-core activities on hold and therefore the proposed sale was halted.  Towards the end of 2007, discussions were re-opened, but then we moved into the second quarter of 2008 and the period leading up to the global financial crisis. The market turmoil caused the prospective purchaser to divest itself of all non-core activities, including the consultancy division which we were planning to merge with.  Once the de-merger had taken place there was a brief discussion with the now independent consultancy but the arrangement was not appealing enough for me and we ceased discussions.

In 2008, I was approached by three UK based organisations, all at around the same time. In spite of the fact that my company had never actually been put up for sale, I decided to take one approach seriously.  However, as this company had made a number of approaches to me over the previous ten years, all of which resulted in failed negotiations, I decided that I should only proceed with professional advice from a specialist firm.  I spoke to a friend who had successfully sold a company that competed with mine. He recommended Fusion Corporate Partners to me, the same M&A firm that had advised him.

I arranged a meeting between Mark Eisenstadt, a partner at Fusion; Neil Hart, my solicitor at Thomas Eggar and my accountant David Brownrigg of David Bowden & Company.  If we were to go ahead with this sale, I wanted to ensure that I had a team in place and not to have to pass messages from one person to another.  We decided that Fusion was the company we needed to run the sale process.  I was assigned Paul Kelly from Fusion to act as my permanent advisor.

The process was long winded and more complicated than any of us expected. However, throughout the process Paul Kelly was available virtually 24/7 and never once faltered in his determination to keep the process on track.  In terms of day-to-day negotiations and problem solving and generally keeping everyone active, Paul made this deal happen.  I was fortunate to have an excellent legal, accountancy and corporate finance team on my side. Now, one year on, Paul is advising me on the earn-out portion of the deal. 

There are many pitfalls to selling one’s company and I can state quite categorically that no such exercise should be considered without the support of an organisation such as Fusion Corporate Partnership.

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Itron to acquire energy information business Asais

December 15, 2010 — Fusion DigiNet

Itron is to acquire Asais, an energy information management software and consulting services provider, headquartered in France, for an undisclosed sum. The transaction is expected to be completed in the first quarter of 2011.

Asais is a leader in energy information management and multi-vendor data collection capabilities. For the past 25 years, the company has developed and implemented advanced energy information management solutions through state-of-the-art software and online services. Asais delivers competitive flexibility to every segment of the energy industry by providing customers with data collection, data analysis and smart grid management software solutions and services.

Itron has been partnering with Asais globally for the past four years. Joint projects include smart metering and smart grid initiatives with many major utilities across Europe, Africa and the Middle East. The acquisition enables Itron to offer integrated, end-to-end solutions with a strong expertise in energy information management and efficiency—fundamental components for success in today’s utility industry.

Asais’ leading data collection software will complement Itron’s field-proven meter data management and analytics systems, creating a platform for successful smart metering deployments in Europe and across the globe. In return, Itron will provide Asais opportunities for accelerated growth into international markets. Asais’ consultancy expertise will afford Itron’s utility customers expanded options to optimize the management of their resources.

Marcel Regnier, senior vice president and chief operating officer, Itron International, said: “We are delighted to welcome Asais to our team and are very excited about this acquisition, as it strengthens our position as the leader in end-to-end smart grid and smart distribution solutions. Utilities today prefer to rely on a single, trusted partner for their energy management solutions. Thanks to this union of highly skilled teams, Asais and Itron will deliver invaluable experience and expertise in energy information management and data collection software. Together, Itron and Asais can provide flexible, scalable solutions for customers worldwide.”

Thierry Poyatos, Asais managing director, commented, “This acquisition is the result of many years of working closely with Itron, a partnership that has already led to multiple major successes. Formally joining Itron is an exciting opportunity for our talented people, who now have the ability to demonstrate their smart grid and energy management skills on a global stage. Asais will continue to develop multi-vendor solutions in response to increasing demand for technologies that ensure interoperability. We are also committed to maintaining class-leading customer service for our existing clients who have put their trust in Asais for over a quarter century.”

USA, Liberty Lake, WA & France, Noisy le Grand

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Schneider Electric acquires two software technologies for building management companies

December 15, 2010 — Fusion DigiNet

Global specialist in energy management, Schneider Electric, has acquired two French-based software technologies for building management companies: Vizelia, a software provider of real time energy monitoring of buildings, and D5X, a specialist in solutions to optimize commercial space utilization.

Vizelia employs 12 people and is expected to generate revenues in excess of €4 million for the current year. The innovative software of Vizelia allows customers to obtain real time data monitoring of energy consumption, maintenance planning and property management for both new and existing buildings, in particular for education, public and commercial building segments.

With 27 employees, D5X offers comprehensive solutions in 3 main areas: real time tracking of movement and building occupancy, room control systems (including lighting, blinds and ventilation) and data network management. The company is expected to generate revenues in excess of €4 million for the current year.

With these acquisitions Schneider Electric complements its solution offers for fully integrated building management and further reinforces its value proposition for end users and property owners.

Chris Curtis, Executive Vice-President, Buildings business, commented: “By acquiring Vizelia and D5X, Schneider Electric enhances its capability to offer complete solutions to improve buildings performance.  We will also be able to leverage our market position in some targeted countries and propose these technologies to our customers outside of France.”

“We continue to make innovative investments in France in order to offer unparalleled solutions to our customers. They clearly want to bring their installations under control”, said Frédéric Abbal, France Country President, “from an energy monitoring point of view but also from a performance optimization point of view”

These two acquisitions are expected to meet Schneider Electric’s Return on Capital Employed criteria.

Schneider Electric has around 100,000 employees and achieved sales of 15.8 billion euros in 2009

France, Rueil-Malmaison

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Deloitte acquires the assets of both ClearCarbon Consulting and DOMANI Sustainability Consulting

December 14, 2010 — Fusion DigiNet

Deloitte has acquired the assets of ClearCarbon Consulting and DOMANI Sustainability Consulting both of which will be integrated into Deloitte’s sustainability services. ClearCarbon and DOMANI will operate on an interim basis as “ClearCarbon by Deloitte” and “DOMANI by Deloitte” respectively.

As reported on Fusion DigiNet, Deloitte also acquired carbon and sustainability consultancy dcarbon8 earlier this year.

With ClearCarbon and DOMANI, Deloitte takes a significant step forward in achieving its goal of being a leading sustainability services provider.  The combined sustainability offerings create a new hub of sustainability excellence, highlighting a combination of strategic insights and deep knowledge of complex challenges impacting organizations across all industries and sectors. 

“Deloitte has identified the sustainability services market as a key growth area,” said Jessica Blume, national managing principal, research and innovation, Deloitte LLP.   “As an emerging offering, the acquisitions of ClearCarbon and DOMANI will further strengthen Deloitte’s ability to help clients drive value, mitigate business risk, and drive growth, efficiency and innovation through improved environmental, social and financial performance.”

“ClearCarbon and DOMANI bring a suite of capabilities to Deloitte that will complement and enhance our current sustainability offerings,” said Chris Park, principal, Deloitte Consulting LLP, and national leader of Deloitte’s sustainability services.  “Both organizations bring a strong track record of advising large, complex organizations on a range of sustainability-related issues, helping them unlock value and mitigate risks across their organizations and throughout their supply chains.  We welcome our new colleagues and look forward to bringing our enhanced capabilities to our clients.”

Deloitte’s sustainability offerings draw on the insights and experience of Deloitte’s four primary business units, and include a broad and deep set of industry-specific services across corporate strategy and operations, mergers and acquisitions, information technology, human capital, corporate tax, internal and external audit, and enterprise risk management.  This approach enables Deloitte to help clients address a range of domestic and global sustainability opportunities and risks related to:

“ClearCarbon’s deep experience helping clients gain value from carbon management will further position Deloitte as the go-to advisor on these issues,” said Kyle Tanger, director, Deloitte Consulting LLP.  “Deloitte’s strong strategic advisory capabilities in all areas of sustainability, combined with its global reach, will help our clients gain even greater value from their sustainability initiatives.  We are thrilled to be part of this new hub for sustainability excellence.”  Tanger was chief executive officer at ClearCarbon Consulting.

“DOMANI has spent years helping our clients increase revenue, mitigate risk and reduce operating costs through improved environmental and social performance,” said Will Sarni, director, Deloitte Consulting LLP.  “Our vision of how companies should embrace sustainability as a core business function is well-aligned with Deloitte’s approach and we’re confident that our experience and capabilities will further benefit our combined client-base.” Sarni was chief executive officer of DOMANI Sustainability Consulting.

USA, New York, NY & Arlington, VA & Hauppauge, NY

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Platts to acquire BENTEK Energy

December 14, 2010 — Fusion DigiNet

Platts, a global provider of energy and metals information and a division of The McGraw-Hill Companies, is to acquire BENTEK Energy, a privately held energy market analytics company headquartered in Evergreen, Colorado. The purchase price was not disclosed. The acquisition is expected to be completed in early 2011.  Following the closing, BENTEK will continue to operate under its current name with its current management.

BENTEK, founded in 1985, offers a portfolio of data, information and analytics products in the natural gas and liquids sector.  Its customers include the majority of the top firms in the energy industry, including independent producers, pipeline companies, and utilities, as well as industry regulators, financial institutions, and the largest energy hedge funds.

“BENTEK is a highly successful company whose leadership position has been attained through its deep understanding of energy industry dynamics, of the data reflecting those dynamics, and of the requirements of customers,” said Larry Neal, president of Platts.  “By combining BENTEK’s analytical expertise with Platts’ products, we can offer customers a comprehensive view of the North American natural gas market.  Our collective capabilities will provide them with a unique lens on the market – from underlying supply/demand fundamentals to real-time news and price information – and deepen our coverage of other complex commodity markets.”

Porter Bennett, BENTEK’s president and CEO, added that Platts’ current position in power, coal and liquefied natural gas, coupled with its global sales force, provides the opportunity to accelerate BENTEK’s plans for expanding into new commodities and international markets.  “As part of Platts, we are better positioned to capitalize on the increasing internationalization and interdependence of the natural gas and liquids markets and address the growing global demand for fundamental market data and analysis.”

The BENTEK acquisition follows Platts’ announcement, reported on Fusion DigiNet, last week that it plans to acquire Oil Price Information Service (OPIS), a leading provider of news and price information to the wholesale and retail petroleum markets in North America. With the BENTEK and OPIS acquisitions, Platts will deepen its power coverage and broaden its oil coverage in the North American market.

USA, New York, NY & Evergreen, CO

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