Friday, May 7, 2021
April 1, 2021
SunStreet, a subsidiary of Lennar (NYS: LEN), was acquired by Sunnova Energy (NYS: NOVA) for $354.5 million. Under the terms of the agreement and earnout agreement, Lennar will receive total consideration of up to 7.22 million shares of Sunnova common stock, which is comprised of 3.33 million shares in initial consideration payable at closing and 3.89 million shares in consideration associated with two earnouts. SunStreet is a provider of solar panel systems that designs solar panels to produce more solar energy than most traditional systems.
April 6, 2021
Recycled Energy Development, a subsidiary of Ironclad Energy Partners, reached a definitive agreement to be acquired by SDCL Energy Efficiency Income Trust (LON: SEIT) for an undisclosed amount. Previously, the company was acquired by Ironclad Energy Partners, via its financial sponsor Stonepeak Infrastructure Partners, through an LBO on September 22, 2016. Recycled Energy Development is an operator of industrial energy development projects that develops, owns, and operates power projects that harness waste energy and dramatically reduces greenhouse gas emissions and power costs.