Reynolds Advisory Partners acts as exclusive financial advisor to Mitsubishi Electric on its purchase of Smarter Grid Solutions
LOS ANGELES, California — Reynolds Advisory Partners, LLC (“RAP” or “Reynolds”) acted as the exclusive financial advisor to Mitsubishi Electric Power Products, Inc. (“MEPPI”) of Warrendale, Pennsylvania and its parent company Mitsubishi Electric Corporation (“MELCO”) of Tokyo, Japan on their acquisition of Smarter Grid Solutions (“SGS”) of Glasgow, Scotland, United Kingdom. MELCO and MEPPI announced the definitive agreement to acquire SGS on August 9, 2021, and the transaction closed on August 19, 2021. Financial terms of the transaction were not disclosed.
Joe Barron, Director, Corporate Development & Marketing at MEPPI, commented as follows: “We very much appreciated the expert assistance of Reynolds Advisory Partners, in particular Brian MacLeod, who was dedicated to assisting us in refining our acquisition criteria, identifying and approaching potential suitable targets, and negotiating and completing the acquisition. We are grateful to have had Brian's guidance and leadership throughout the process which were instrumental in closing the successful transaction.”
Brian MacLeod, Managing Director at RAP, stated: “We are pleased to have assisted MEPPI and MELCO in achieving a successful result from this M&A process. The combination of Mitsubishi Electric and Smarter Grid Solutions will generate substantial synergies and strategic benefits for all the parties, including the prospect of providing new and innovative solutions to electric utilities and other electricity industry participants. Distributed energy resources (“DER”) continue to proliferate in power grids, resulting in more diversified and increasingly economical energy sources. DER increases sustainability by incorporating renewable energy sources into power grids. DER also reduces greenhouse gas emissions, thereby reducing the rate of climate change. SGS’s technology, products and expertise help electric utilities and other industry participants manage the complexities associated with incorporating DER, enabling them to optimize the benefits of DER.”
Mr. MacLeod added: “M&A transaction activity is currently elevated among software and SaaS providers in all sectors of the economy, as large industry participants seek to add additional capabilities. Our firm has extensive M&A advisory experience in software/SaaS in many vertical markets, such as, in this case, the electric power and utilities sector.”
About Mitsubishi Electric Power Products, Inc.
Headquartered in Warrendale, Pennsylvania, Mitsubishi Electric Power Products, Inc. (MEPPI) is a U.S. affiliate of Mitsubishi Electric Corporation serving the North American power systems, data center, rail transportation, and large visual display markets. MEPPI products include gas circuit breakers, vacuum circuit breakers, power transformers, gas-insulated substations, FACTS, high voltage DC systems, battery energy storage systems, electric generators, nuclear power plant control systems, uninterruptible power supplies, rail transportation equipment, rail signaling systems, and high-definition LED displays. Information on MEPPI’s complete line of products and services can be found at www.MEPPI.com.
About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com *U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021.
About Smarter Grid Solutions
Smarter Grid Solutions (SGS) is a U.K.-based energy management enterprise software company that operates internationally with offices in Glasgow, Scotland, and New York City. The company’s products are used to manage power grids and market participation in energy systems with high volumes of distributed, clean and flexible energy assets. SGS’ customers use its DER management system (DERMS) products to integrate DER into markets and grids to deliver grid capacity management, flexible interconnection, virtual power plant, microgrid, fleet energy asset operations, energy as a service (EaaS) and local energy applications. For more information, visit www.smartergridsolutions.com.
About Reynolds Advisory Partners, LLC
Reynolds Advisory Partners, LLC is a boutique investment bank with a focus on the “middle market”. RAP provides a full suite of financial advisory services, including mergers, acquisitions, divestitures, restructurings, and the issuance of equity and debt capital. RAP's professionals also have extensive experience in advising Independent/Special Committees of both public and private companies in facing complex issues, including evaluating related party transactions.
For more information, visit www.reynoldsap.com.
Reynolds Advisory Partners, LLC - Investment Banking Contact:
Brian MacLeod, Managing Director: firstname.lastname@example.org. 310-318-9674
Source: Reynolds Advisory Partners, LLC
Reynolds Advisory Partners