July 11, 2016
Cascadia Capital, an investment bank serving middle market clients globally, today confirmed it acted as the exclusive financial advisor to 1Energy Systems, Inc. (“1Energy”) on its acquisition by Doosan Heavy Industries & Construction (“DHIC”). The transaction will create a new Seattle-based entity, Doosan GridTech™.
Based in Seattle, 1Energy develops and delivers the software platforms needed to integrate the rapidly increasing amounts of distributed energy resources into the electric power system. DHIC is a Korea-based global leader in conventional power generation technologies. The combination will accelerate 1Energy’s growth and further drive DHIC’s expansion into clean energy.
“This acquisition further underscores the importance of 1Energy’s technology and is indicative of increasing investment in renewables, due in part to the sector’s improving economics,” said Michael Butler, CEO of Cascadia Capital. “Both companies will benefit significantly from accelerated growth and market expansion opportunities.”
“Cascadia never lost sight of our strategic imperatives,” said David Kaplan, CEO of 1Energy. “They understood the importance of our technology, the momentum behind the sector in which we operate, and were a pleasure to work with throughout the process.”
“1Energy is highly regarded for its advanced technology platform, and we are pleased to have helped them find an international partner who recognizes their value and unique contribution to the industry,” added Jamie Boyd, Managing Director, Cascadia Capital.
For more information about this transaction, please feel free to contact the deal team:
Chairman & CEO