1/12/2024 0 Comments Stem inc 2017Should the transaction close on anticipated terms, Clairvest will realize total sale proceeds of approximately US$350 million (CVG’s portion being US$108 million). The transaction will be funded by a combination of cash and common shares of Stem, providing potential further upside to Clairvest and other AlsoEnergy shareholders. It is our view that Stem and AlsoEnergy have a strategic fit that will enable both companies to accelerate their growth.” Ken Rotman, CEO & Managing Director of Clairvest commented that “Our partnership with AlsoEnergy is an excellent example of Clairvest’s domain-focused approach to investing and emphasizes our mission to help build strategically significant businesses with our entrepreneur partners. This success was fueled by a passionate management team with a clear entrepreneurial vision”, remarked Angus Cole who leads Clairvest’s energy transition practice. AlsoEnergy grew to market leadership in the C&I segment and successfully entered the utility-scale segment to become the largest solar monitoring software company. “We are extremely pleased with the growth and evolution of AlsoEnergy over our investment period. Together, we navigated through opportunities and challenges collaboratively and achieved this fantastic outcome.” “With respect to our partnership with Clairvest, Ken Rotman, Angus Cole, and the Clairvest team provided unparalleled support to our company over the years and were true partners. “We are very excited about AlsoEnergy’s new chapter with Stem, given their market position in the rapidly growing storage and digitization sectors”, said Robert Schaefer, Co-founder & CEO of AlsoEnergy. Clairvest and the other shareholders will take a portion of their consideration in shares of Stem. Since Clairvest partnered with the two co-founders, Robert Schaefer and Holden Caine, in August 2017, AlsoEnergy executed a successful growth plan through acquiring & integrating three highly strategic companies, building a global footprint, and broadening its service offerings through innovation. antitrust laws.ĪlsoEnergy is a leading provider of solar monitoring software, integrated controls, and edge solutions to Distributed Generation and Utility customers across the U.S. The proposed transaction is expected to close in Q1 2022 after satisfaction of customary closing conditions, including notification requirements under applicable U.S. (“AlsoEnergy” or the “Company”) have entered into an agreement to sell their interests in AlsoEnergy to Stem, Inc. (TSX: CVG) (“CVG”), today announced that it, a partnership managed by it, Clairvest Equity Partners V (“CEP V”, collectively “Clairvest”), and the other shareholders of Also Energy Holdings Inc. Toronto, Ontario (December 16, 2021) – Clairvest Group Inc.
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