has entered into a Business Combination Transaction with
Our service was a fairness opinion
Cascadia Capital, an investment bank serving middle market clients, announces the completion of advisory services to First Mode Holdings Inc. (“First Mode”) in support of its joint partnership arrangement (the “Transaction”) with Anglo American.
First Mode, a global carbon reduction company focused on heavy industry, and global mining company Anglo American have closed on a transaction to combine First Mode and Anglo American’s nuGen™ zero emission haulage solution business (“ZEHS”) to accelerate the transition of mining and other heavy industries to diesel-free futures. The Transaction, which closed on January 5th, 2023, values the newly combined business in the order of $1.5 billion and includes a $200 million equity injection from Anglo American.
As part of the advisory services provided, Cascadia issued a fairness opinion to First Mode related to the Transaction.
First Mode is a leading specialist engineering technology company based in Seattle, Washington with an additional location in Perth, Australia.
Anglo American is a leading global mining company based in London with a world class portfolio of mining and processing operations and undeveloped resources. It has more than 106,000 employees around the world, in 15 countries.
The Transaction is intended to facilitate the rapid global growth of First Mode, development of production facilities in Seattle and new proving grounds in Centralia, Washington, support staffing goals worldwide, develop First Mode’s footprint in Perth, Australia, and speed the commercialization and deployment of First Mode clean energy solutions like ZEHS.
For more details on the Transaction please refer to First Mode’s announcement here. Read More
The Transaction represents another advisory assignment for Cascadia in the Energy Transition and Climate Technology sector. For over 17 years, Cascadia has advised innovative market leaders in energy transition, climate, sustainability, and related sectors.
To learn more about Cascadia’s Energy Transition and Climate Technology Group, please click through to the following link.
For more information about this transaction, please feel free to contact:
Jamie Boyd
Managing Director
jboyd@cascadiacapital.com
(206) 436-2514