Latest News
Enel Group Closes USD 250m Acquisition of US Energy Intelligence Software Firm EnerNOC
Friday 11 August 2017

11 August 2017 - Italian power utility and integrated electricity and gas operator Enel Group has closed its acquisition of US-based demand response solutions and energy intelligence software company EnerNOC, Inc. (NASDAQ: ENOC), the group said.

This deal was announced in June.

Enel Green Power North America acquired EnerNOC for approx. USD 250m following successful completion of tender offer and fulfillment of all conditions to the closing of the transaction

This transaction makes Enel Group a leader in demand response services, incorporating EnerNOC's more than 8,000 customers, 14,000 sites under management and 6gw of demand response capacity

Enel Green Power North America, Inc. bought the common stock of EnerNOC at a price of USD 7.67 per share in cash for a total consideration of approximately USD 250m.

As a result of the tender offer and subsequent merger, EGPNA now has 100% ownership of EnerNOC. EnerNOC is a US-based provider of demand response and energy services for utility, commercial, institutional and industrial customers.

Upon closing of the acquisition, Enel will incorporate EnerNOC's more than 8,000 customers, 14,000 sites under management and a total of 6gw of demand response capacity.

Enel is present in over 30 countries across five continents with a managed capacity of approximately 85gw and more than 65m business and household customers worldwide.

EGPNA will commence a tender offer to acquire all of EnerNOC's shares of common stock for USD 7.67 per share, representing an approximate 42% premium to the company's closing stock price on 21 June 2017 and a 38% premium to the 30-day volume-weighted average price.

This transaction has been unanimously approved by the board of directors of EnerNOC. The closing of the transaction is subject to the satisfaction of customary conditions and is expected to close in 3Q17.

EnerNOC is a provider of demand response solutions and energy intelligence software.

The company's SaaS platform helps enterprises control energy costs, mitigate risk, and streamline compliance and sustainability reporting.

Morgan Stanley and Greentech Capital Advisors are serving as financial advisors and Cooley LLP is acting as legal counsel.
Date Published: 11/08/2017
Target: EnerNOC, Inc
Country: USA
Deal Size: 300m (USD)
Sector: Utilities
Type: Corporate acquisition
Financing: Cash
Status: Closed
Buyer: Enel Group