POWERHOME Solar, LLC is a leader in the residential solar installation space. It was ranked 7th nationally for residential solar contracting and as the 96th fastest growing company in the US. The company is headquartered in Mooresville, North Carolina and has operations in North Carolina, South Carolina, Virginia, Michigan and Ohio with expected growth in a number of other states.
Trivest is a private equity firm that makes both controlling and minority stake investments in high quality companies with strong management teams, sustainable competitive advantages and high growth prospects. The company recently closed its 6th fund, which totals $600 million. Trivest is headquartered in Coral Gables, FL.
POWERHOME Solar pursued a growth equity investment in order to accelerate its growth in existing and new states.
Cypress Associates LLC acted as financial advisor to POWERHOME Solar in its sale of Series A Convertible Preferred Stock to Trivest.
Chaired the Special Committee in connection with the merger with US Propane
Cypress Associates LLC advised Allegheny Energy on the sale of AFN Communications
Cypress Associates LLC advised on the acquisition of and financing for certain power generation assets from Conectiv
Cypress Associates LLC represented Allegheny Energy on the Sale of Fellon-McCord/Alliance Energy Services
NGL Energy Partners LP is a publicly traded master limited partnership listed under the ticker “NGL” on the NYSE and is headquartered in Tulsa, Oklahoma. The firm is a diversified midstream company that engages in the crude oil logistics, waters solutions, liquids, retail propane, and refined products and renewables business in the U.S.
Bonanza Creek is an independent oil and natural gas company, engaging in exploration, development, and production of onshore oil and related liquids-rich natural gas in the U.S. Headquartered in Denver, Colorado, the publically traded firm was founded in 2010 and is listed on the NYSE under the ticker “BCEI.”
Cypress served as the exclusive financial advisor to NGL Energy Partners LP in regards to the renegotiating of its logistics contract with Bonanza Creek Energy Incorporated. The transaction amended the contractual arrangement and renegotiated the oil supply agreement and claim with NGL, giving NGL all of the oil produced by Bonanza Creek.
ETP owns and operates a diversified portfolio of energy assets. ETP is also the fourth largest retailer of propane in the United States, serving more than 700,000 customers from coast to coast.
CrossCountry Energy operates natural gas pipeline businesses in North America. The company provides energy transportation services to West and East markets through its bi-directional system. Its customers include electric utilities, independent power producers, cogeneration facilities, marketers, electric power generators, industrial end-users, municipal generators, and local distribution companies.
El Paso Corporation provides natural gas and related energy products and is one of North America’s largest natural gas producers. The company owns North America’s largest natural gas pipeline system which goes from border-to-border and coast-to-coast.
El Paso alleged that the acquisition of CrossCountry by Energy Transfer Partners triggered a right of first refusal by El Paso to acquire CrossCountry’s 50% interest in a joint venture in which El Paso held the other 50%. Following Cypress’ deposition testimony, El Paso withdrew its complaint and stipulated that the ROFR had never been triggered.
Countryside Power Income Fund is an unincorporated, open-ended limited purpose trust formed to invest indirectly in biogas projects and district energy systems. The biogas projects are located in the United States, and the district energy systems are located in Canada.
Cypress advised the Board of Trustees of Countryside Power Income Fund in connection with the acquisition of Ripon Cogeneration, LLC, a portfolio company of Lightyear Capital, LLC. Cypress also provided a fairness opinion to the Board of Trustees with respect to certain related party matters.
Williams is a domestic leader in finding, producing, gathering, processing and transporting natural gas. Williams’ operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, Southern California and Eastern Seaboard.
Cypress acted as financial advisor to the Ontario Teachers’ Pension Plan and the Arkansas Teacher Retirement System in the restructuring of claims by securities purchasers against Williams arising from Williams’ accounting fraud. Cypress evaluated Williams’ financial condition and prospects, analyzed various forms of consideration, and assisted in the mediation which culminated in the agreement by Williams under which it paid $290 million of cash to Williams’ securities purchasers.
Countryside Power Income Fund enables investors to participate in the rapidly emerging market for independent power generation and utility-related infrastructure in North America. Countryside Power Income Fund holds investments in energy-producing assets that deliver stable cash flows.
U.S. Energy Biogas Corp. (USEB), a subsidiary of US Energy Systems, provides service to develop, own, and operate small to medium-sized power plants. Its 23 generation facilities (total capacity of 60 MW) primarily use renewable fuels such as biomass fuel and biogas. The company serves retail, commercial, and industrial users. USEB filed Chapter 11 in 2006.
Countryside had lent approximately $90 million to USEB to refinance existing indebtedness in 2004. In November 2006 USEB filed for protection from creditors pursuant to Chapter 11. Countryside was paid in full for its loan, and received an additional $9 million for cancellation of its make whole rights and the value of a royal interest.
Cypress represented Countryside in the restructuring of its investment in USEB.
