Uncovering actionable deal opportunities for private equity, venture capital, angel investors, and investment bankers by reading the data, not the rumors. Highlighting 10 companies that have a high likelihood of being “in-market” for a transaction.
Pay close attention to the “Keywords of Interest” – these are terms the company is actively searching at 2x – 3x their normal baseline rate.
Previous Predictive Deal Issues:
RBI Solar Inc
Cincinnati, Ohio, United States
Company Summary
RBI Solar designs, engineers, manufactures and installs solar mounting systems for commercial and utility-scale solar projects. RBI specializes in fixed-tilt ground-mount, single-axis tracker, carport/canopy, ballasted landfill, and roof mount solutions.
| Key Data Points | Â |
|---|---|
| Founded | 2009 |
| Headcount | 115 |
| Funding to Date | NA |
| Last Round | NA |
| Last Round of Investors | Subsidiary of Rough Brothers Inc. |
| Estimated Revenue | $20.5M |
| CEO | Dean Vukoic |
| Â | Â |
Intent to Transact Score
Keywords of Interest
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Ancillary Signals
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Our Take
As a subsidiary of Rough Brothers, RBI has not been in a position to raise outside capital. However, current economic conditions may be stressing the company to look for outside investors to raise cash or to sell the company.
Our take is more focused on the latter. Rough Brothers may want to use the cash from the sale to reinvest in other businesses. Although the ancillary signals may point to sustainable progress, this market is highly competitive and local. Rough Brothers may not have the capabilities to capture a broader market and, thus, could be looking to sell to someone that does.
Potential Mandates
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- For Venture Funds: Potential 100% ownership opportunity or late-stage raise; best fit for a fund with special strategic advisory capabilities
- For I-Bankers: Advisory work in selling the business or raising capital
- Strategics: Could be open to strategic investment from someone that could drive business development and develop stronger partnerships
Terra-Gen
New York, New York, United States
Company Summary
Terra-Gen is a renewable energy company focused on developing, owning, and operating utility-scale wind, geothermal, and solar generation. Terra-Gen’s operating portfolio is one of the largest in the United States with a focus on the California marketplace. Terra-Gen is owned by Energy Capital Partners.
| Key Data Points | Â |
|---|---|
| Founded | 2007 |
| Headcount | 87 |
| Funding to Date | $585.3M |
| Last Round | 2020 |
| Last Round of Investors | NA |
| Estimated Revenue | $25M |
| CEO | Jim Pagano |
| Â | Â |
Intent to Transact Score
Keywords of Interest
Â
Ancillary Signals
Â
Our Take
Terra-Gen seems to be targeting new projects to develop with its recent capital raise. The company has recently been active in building out its solar portfolio and may be seeking to acquire/develop new solar projects. Due to the recent backlash against a wind project proposal in Humbolt County, CA, the company may be seeing less risk with solar project proposal approval.
Less likely, but possible, is that the current PE group may be seeking an exit or the company may be looking to sell off some lower-performing assets.
Potential Mandates
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- For Venture Funds: Potential acquisition of projects or of the company by Private Equity Group
- For I-Bankers: Advisory work in the sell-side of lower-performing assets or the business; potential advisory in financing new projects
- Strategics: Could be open to strategic investment from someone that could develop an in-house financing division/financing sister company
Tara Energy
Houston, Texas, United States
Company Summary
Tara Energy serves as a provider of electricity to hundreds of thousands of residential and commercial customers in Texas and is a subsidiary of Just Energy Group Inc.
| Key Data Points | Â |
|---|---|
| Founded | 2002 |
| Headcount | 76 |
| Funding to Date | NA |
| Last Round | NA |
| Last Round of Investors | Subsidiary of Just Energy Group |
| Estimated Revenue | $3M |
| CEO | R. Scott Gahn |
| Â | Â |
Intent to Transact Score
Keywords of Interest
Â
Ancillary Signals
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Our Take
Tara does not have a significant solar portfolio, but Texas has become a hot-spot for solar. The intent data suggests that Tara could be eying to ramp up their solar holding for electricity generation. The strategy may be to invest in a company already doing solar or to work with a solar financier or developer to build and operate projects.
Potential Mandates
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- For Venture Funds: Potential exit of solar investment via sell to Tara
- For I-Bankers: Potential buy-side advisory engagement
- Strategics: Could be open to strategic investment from someone that could finance/develop utility-scale solar projects in Texas
Todd Corporation
Wellington, Wellington, New Zealand
Company Summary
Todd Corporation executes its interests in hydrocarbon exploration and production, electricity generation, energy retailing, property development, minerals, healthcare, and technology via eight specialized subsidiaries.
| Key Data Points | Â |
|---|---|
| Founded | 1987 |
| Headcount | 152 |
| Funding to Date | NA |
| Last Round | NA |
| Last Round of Investors | NA |
| Estimated Revenue | $100M |
| CEO | Jon Young |
| Â | Â |
Intent to Transact Score
Keywords of Interest
Â
Ancillary Signals
Â
Our Take
Todd ramped up their solar exposure in 2019 and the company is very active in M&A. What we see is a potential upcoming acquisition or sell of one of its subsidiaries.
Given the broader, economic context we could see investment in a digital tech start-up (IIOT, AI/ML, Robotics, etc) or divestiture from a previous investment.
Potential Mandates
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- For Venture Funds: Potential sell of a portfolio company to Todd
- For I-Bankers: Potential Advisory work in advising M&A deals
- Strategics: Could be open to a strategic partnership with large tech leaders to contract digital tech needs across various industries
Recurrent Energy
Walnut Creek, California, United States
Company Summary
Recurrent Energy is a utility-scale solar and energy storage project developer. As a wholly-owned subsidiary of Canadian Solar, Recurrent functions as Canadian Solar’s U.S. project development arm. The current portfolio has approximately 2.4 GW of operating solar and storage projects.
| Key Data Points | Â |
|---|---|
| Founded | 2006 |
| Headcount | 104 |
| Funding to Date | $135M |
| Last Round | 2019 |
| Last Round of Investors | Natixis |
| Estimated Revenue | $23M |
| CEO | Michael Arndt |
| Â | Â |
Intent to Transact Score
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