Category: News

England & Company is pleased to announce that it served as the exclusive financial advisor and investment banker to iSun, Inc. (“iSun”) (OTCPK: ISUN), a provider of solar design and installation, electrical contracting, and project management services, in its sale to Clean Royalties, LLC. The sale was effectuated through a Chapter 11 asset sale under Section 363 of the U.S. Bankruptcy Code.

Based in Williston, VT, iSun filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware in June 2024. England was retained as iSun’s investment banker and financial advisor for the purpose of arranging DIP financing, soliciting offers for iSun’s assets, and advising the board of directors throughout the Chapter 11 process. The sale was ultimately approved by the U.S. Bankruptcy Court in August 2024 and closed on August 26^th, 2024.  iSun was also assisted in the process by Novo Advisors and Gellert, Seitz, Busenkell & Brown who acted as restructuring advisor and debtors’ counsel, respectively.

“I am very pleased to have had the England team navigate iSun through this process, achieving a result which preserved the business as a going concern for the benefit of our commercial partners, employees, and other stakeholders,” said Rob Vanderbeek, Chief Restructuring Officer of iSun. “With England having previously advised iSun, the Board trusted their advice to put the company in the best possible position. We believe that we achieved that with the sale to Clean Royalties.”

The acquisition and leadership transition is part of the company’s restructuring plan to restore financial stability and pursue growth in the solar energy business across northern New England and New York state.

About iSun

Since 1972, iSun has accelerated the adoption of innovations in energy transition and electrification technology and has been a trusted provider of solar design and installation services to Fortune 500 companies. The company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility-scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery-backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. For more information, please visit: www.isunenergy.com

About Clean Royalties

The company invests in leading companies that focus on the following themes: cleaner power generation, electric transmission, critical energy infrastructure, energy technology, energy efficiency, decarbonized transport, and critical natural resources. For more information, please visit: www.cleanroyalties.com

October 2024 – England & Company is pleased to announce that it served as the financial advisor to Sargent Electric Company, LLC (“Sargent”), a leading electrical contractor with over $400 million in annual revenue, in its sale to Constructel Visabeira (“Constructel”), a global leader in providing energy and telecommunications engineering and construction services, backed by Goldman Sachs Alternatives.

Based in Pittsburgh, Pennsylvania, Sargent is a full-service electrical contractor serving Fortune 500 companies throughout the United States.  The company has a long history and proven capabilities in energy transition projects (including renewable energy projects such as wind, solar, renewable natural gas, and battery energy storage), utility transmission, distribution, and substation projects, commercial and industrial projects, and data center projects.

This acquisition strengthens Constructel’s position in the U.S. energy and renewables sector as well as the technology and AI sectors. Its expansion will enhance its capabilities, geographic footprint, and customer base while creating commercial synergies with JFECC, a U.S. company Constructel acquired in 2020. This strategic move positions Constructel for accelerated and sustainable growth by combining its expertise with Sargent’s brand and established client relationships.

About Sargent Electric Company

Founded in 1907, Sargent Electric is a top-tier electrical construction and services company offering a wide range of electrical services to clients in the energy, infrastructure, industrial, and commercial sectors. With over a century of experience and a dedicated team of professionals, Sargent Electric is recognized for its safe, high-quality work, reliability, customer-focused approach, and proven delivery capabilities. With over 1,000 direct employees, the company has facilities in the Midwest, Mid-Atlantic, and Northeast regions, including Pennsylvania, Indiana, Maine, Wisconsin, and Ohio, and provides services across the U.S. For more information please visit:www.sargentelectric.com

 About Constructel Visabeira

Based in Portugal, Constructel Visabeira is a leading international company in the telecommunications and energy sectors, with integrated skills that allow us to offer customized solutions for each customer. With more than 40 years of experience and owned by the Visabeira Group, a multinational and multisectoral holding company operating in the sectors of Telecommunications, Energy, Technology, Construction, Industry, Real Estate and Tourism, Constructel is already an essential reference with unique know-how that enables a diversified offer of turnkey solutions, including the design, implementation, construction, and maintenance of network infrastructures. The dedication and responsiveness of our teams are up to the expectations of the most demanding customers and the most challenging markets. For more information please visit: www.constructelvisabeira.com

October 2024 – Collagen Solutions, a premier global supplier, developer, and manufacturer of engineered biomaterial-based medical devices and components with applications in regenerative medicine, has agreed to be acquired by RTI Surgical (“RTI”), a leading contract development and manufacturing organization (“CDMO”) in tissue engineering for regenerative medicine. RTI is a portfolio company of Montagu Private Equity (“Montagu”), a leading Europe and U.S.-based private equity firm with $12 billion of assets under management. England & Company served as the exclusive financial advisor to Collagen Solutions in this transaction.

“The England & Company team are experts in medical device marketing and contract manufacturing, with extensive relationships in the biomaterials and regenerative medicine spaces. They found us the ideal partner for this business and negotiated strong terms for us,” said Rick Mulford, CEO of Collagen Solutions.

Collagen Solutions provides its OEM customers with high-quality components and fully assembled devices made from medical-grade collagen and xenograft tissue. These devices are used in various therapeutic areas, including cardiovascular, wound care, orthopedics and sports medicine, dental, biosurgery, and neurosurgery. The Company is based in Eden Prairie, MN, and has additional strategically located manufacturing sites in the U.K., New Zealand, and Glencoe, MN.

RTI’s acquisition of Collagen Solutions will broaden RTI’s soft tissue portfolio by leveraging Collagen Solutions’ proficiency in bovine and porcine collagen materials. This transaction will also facilitate access to rapidly growing therapeutic fields, and it has the potential to expedite the creation of pioneering biomaterials with combination products and improve patient outcomes.

“Collagen Solutions is an excellent strategic fit for RTI Surgical, bringing specialized and complementary capabilities and expertise in soft tissue engineering,” said Olivier Visa, President and Chief Executive Officer, RTI Surgical.

Adrien Sassi, Partner at Montagu, added, “Supporting patient care by helping to bring clinically differentiated solutions to market in a fast and reliable way is at the core of RTI’s mission, and the acquisition of Collagen Solutions is a transformative step in this journey. It reinforces RTI’s ability to partner strategically with OEMs from early product development to full-scale commercialization, including in clinical applications facing unmet patient needs like structural heart and tissue reconstruction.”

About Collagen Solutions

Collagen Solutions is a global supplier, developer, and manufacturer of medical-grade collagen, tissues, and other biomaterials for use in regenerative medicine, medical devices, and research. The Company’s expertise includes developing and manufacturing engineered tissue scaffolds and other biomaterials-based medical devices. These products are used in various applications, including cardiovascular, dental, orthopedics, neurosurgery, wound healing and biosurgery, and research. For more information, please visit: www.collagensolutions.com.

About RTI Surgical

RTI Surgical is a leading CDMO pushing the boundaries of innovation and tissue engineering to meet patient needs in regenerative medicine. It serves as an expert partner to OEMs (Original Equipment Manufacturers), working with them to identify clinical problems and develop customized solutions that promote healing, accelerate recovery, and help prevent complications. Using RTI’s extensive portfolio of biological materials, it focuses on specialized clinical segments, including plastic and reconstructive surgery, sports medicine and orthopedics, cardiac, and neuro and spine surgery. Headquartered in Alachua, Florida, RTI has manufacturing facilities in the United States and Europe. Montagu acquired RTI in a carve-out acquisition in July 2020. For more information, visit www.rtisurgical.com.

August 2024 — England & Company is pleased to announce that it served as the exclusive financial advisor to Allied Bolt, Inc. (“Allied Bolt”) in its sale to Power Grid Components, Inc. (“PGC”), a portfolio company of Blackstone Energy Transition Partners. Allied Bolt, based in Port Chester, New York, is a global supplier of hardware and components for the telecommunication and power utility industries. Allied Bolt’s product categories, including earth anchors, pole line hardware, aerial drop hardware, and drop attachments, are essential to bringing high-speed data and electrical power distribution to urban and rural homes.

The acquisition of Allied Bolt expands Power Grid Component’s product offering and end markets with a trusted hardware brand, allowing it to sell more products to telecommunication and utility customers.

“I am very thankful to England & Company for putting the deal between Allied Bolt and Power Grid Components together. There is no way we could have gotten to the finish line without them. They were incredibly knowledgeable, helpful, and patient in making our transaction go smoothly,” said Glen Malin, President of Allied Bolt. “With PGC and Blackstone, we have found partners that match our core values and goals around smart growth.”

About Allied Bolt, Inc.

Allied Bolt is a global supplier of hardware and components for the telecommunication and power utility industries. Allied Bolt’s product categories, including earth anchors, pole line hardware, aerial drop hardware, and drop attachments, are essential to bringing high-speed data and electrical power distribution to urban and rural homes. Learn more at www.alliedboltinc.com.

About Power Grid Components, Inc.

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired five businesses. Today, PGC is a supplier of high voltage disconnect switchgear, high quality porcelain and glass insulators, instrument transformers and outside plant hardware. Learn more at www.powergridcomponents.com.

About Blackstone Energy Transition Partners
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $22 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

In 2003, we launched England & Company to provide high-quality strategic advisory services to entrepreneur-led technology companies – businesses that the established investment banks had largely abandoned in the wake of the “dotcom bust.” Leveraging market experience, creativity, and an unflagging loyalty to our clients, we achieved some terrific results. Celebrating our 20th year of providing trusted advice, we continued to deliver for our clients in 2023.

Over the last 20 years, we expanded areas of industry focus, service offerings, and geographic footprint to become an investment bank with a full suite of advisory services and a global reach dedicated to mid-market companies and their financial sponsors. To maintain momentum for the future, in 2023, we continued to add exceptional professionals to our platform, expand our international reach, and, most importantly, deliver compelling results for our clients.

Moving into our third decade, I’d like to take a moment to thank our clients for the trust they have placed in us over the years and share some highlights from the last year. Our client-focused mission will never change, and our ability to deliver has never been stronger. If your company is contemplating a strategic initiative – acquisition, sale, capital raise, or restructuring – please reach out to me or any of our team.

Craig England, CEO

Growing the Platform

Over the past year, England attracted highly accomplished professionals to enhance our Debt Advisory and Restructuring capabilities, as well as expand our advisory reach in Technology and the Asia-Pacific region.

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Expanding International Reach

In 2023, England transacted with companies in a dozen countries across five continents. During the year, we continued to leverage our membership in the World M&A Alliance, a partnership of thirteen middle-market investment banks worldwide.

Additionally, in 2023, we opened an office in Singapore to deepen our reach in the Asia-Pacific (APAC) region. Our presence in Singapore has yielded meaningful results for clients based in both North America as well as the APAC region, providing them with access to an expanded array of investment and M&A opportunities.

Delivering Results

Selected 2023 Transactions

As an advisory firm with a complete suite of services, England & Company continued to provide the solutions that our clients needed in 2023. Working with public companies, sponsor-backed companies, and founder-owned companies, our advisory transactions included raising capital (growth equity, convertible debt, and secured debt), arranging a strategic partnership, completing a leveraged recapitalization, helping an international company divest its U.S. operations, and assisting business owners realize the value they have created through sell-side M&A transactions. Selected transactions from 2023 are highlighted below:

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Founded in 2003, England & Company is an independent investment bank that provides strategic advisory services and capital markets transactions to owners, executives, and boards of directors of domestic and international companies. The firm’s clients include leading companies in the Business Services, Consumer, Energy & Sustainability, Healthcare, Industrial & Infrastructure, and Technology & Media markets. England’s suite of advisory services includes:

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England & Company, a leading independent investment bank, announced today that Richard F. NeJame has joined the firm to enhance its Capital Structure Advisory Practice, focusing on corporate restructuring and special situations. Mr. NeJame brings over 25 years of experience advising leveraged and distressed corporate clients, as well as institutional, private equity, and other investing clients. During his career, Mr. NeJame has executed over $100 billion in aggregated transaction value in over 80 deals.

Based in its New York office, Mr. NeJame will work with the England Debt Advisory practice, expanding the firm’s coverage of issuers and creditors for special situation financings and distressed M&A transactions. As with the broader debt advisory effort, Capital Structure Advisory will be coordinated with England’s experienced industry bankers who are focused on business services, consumer, energy, healthcare, industrial & infrastructure, and technology & media.

“While the U.S. economic picture looks promising, the sustained period of higher interest rates created a complex set of challenges for many companies that could linger for the next few years,” said Craig England, CEO of England & Company. “Rich’s restructuring experience and industry reputation enhance our capability to provide clients the highest quality services in both ideal and challenging circumstances.”

“I am excited to join England & Company, as it provides an outstanding, independent advisory platform for me to expand the scope of their debt advisory practice,” said Mr. NeJame. “With the evolving market for leveraged credit, there is a greater need for investment banks that can complement restructuring expertise with new capital solutions. I look forward to working with my new colleagues to deliver on these capabilities on behalf of established and future clients of the firm.”

Mr. NeJame started his career at Alex. Brown & Sons, where he became an integral part of the team that established the restructuring group at Lazard Frères & Co. He later led restructuring groups at Gleacher & Company and Oppenheimer & Co. Most recently, Mr. NeJame was a Senior Managing Director at B. Riley / FocalPoint prior to joining England & Company. Mr. NeJame earned his undergraduate degree from Duke University and his MBA in Finance from the Wharton School at the University of Pennsylvania.

December 2023 – England & Company is pleased to announce that it served as the exclusive financial advisor and placement agent in the debt and equity recapitalization of  OneroRx, Inc. (“OneroRx”). The financing, provided by Cyprium Investment Partners LLC (“Cyprium”) and Wells Fargo Bank, allowed OneroRx to realign its shareholder base and strengthen its balance sheet, and will enable it to continue to grow through acquisitions.

OneroRx, based in West Des Moines, IA, is a leading technology-enabled, integrated pharmacy services company operating community pharmacies and telepharmacies in underserved rural and urban areas in six states in the Midwest. In its locations, OneroRx maintains a smaller physical footprint than the national pharmacy chains and more efficient operations that enable the Company to better meet the needs of underserved communities and focus on clinical services rather than retail. The Company’s growth strategy incorporates acquisitions, building de novo sites, growing its patient base, and leveraging additional specialty services across its network.

“We have a robust M&A pipeline, and this transaction gives us the flexibility we need to position ourselves better to invest in growing the business,” said Joseph Dunham, OneroRx’s Chief Executive Officer. Dunham added, “The England team was critical in evaluating our alternatives, finding the right partners, and bringing this transaction together.”

About Cyprium

Cyprium is a private equity and mezzanine firm focused on non-controlling investments in profitable middle-market companies, allowing company owners and their management teams to retain a controlling interest in their businesses.  Cyprium provides common equity, preferred stock, subordinated debt, or any combination thereof, offering flexibility and increasing the certainty of close. With offices in Cleveland, New York, and Chicago, the firm invests $5 million to $60 million per transaction in U.S. and Canadian companies with $4 million or more of EBITDA. For over 25 years, the team has deployed $1.9 billion in 100 platform investments.

England & Company, a leading independent investment bank, is excited to announce that Joel Strauch has joined the firm to lead the expansion of its technology practice. Strauch brings over 25 years of experience providing merger and acquisition, capital raising, and other strategic advice to growth companies, primarily in the infrastructure software sector.

Based in its Washington, DC office, Strauch will be active with infrastructure software companies as he also works with the balance of the England team to enhance coverage of SaaS, data-oriented, and other technology businesses across the firm’s established practices in the Energy & Sustainability, Healthcare, and Industrials & Infrastructure sectors.

Prior to joining England & Company, Strauch was a Managing Director and led the infrastructure software practice at DC Advisory, Signal Hill Capital, and Updata Advisors. He began his investment banking career at Alex. Brown & Sons.

“The IT landscape is shifting rapidly as digital transformation initiatives move forward, new and advanced technologies are widely adopted, and AI/ML become mainstream. Joel has spent his investment banking career providing strategic advice to companies at the forefront of these changes,” said Craig England, CEO of England & Company. “Joel’s deep experience positions us well to partner with companies in the core technology sector as well as with businesses in our established practice areas that are addressing and responding to these tectonic shifts.”

December 2023 – England & Company is pleased to announce it served as the exclusive placement agent to Power Survey and Equipment Ltd. (“Powerside“) in its successful closing of a growth equity investment from Energy Growth Momentum LLP (“EGM”). Powerside, based in Saint-Laurent, Quebec and Alameda, CA, plays a pivotal role in advancing the transformation of the industrial and utility electric power infrastructure with its unique ability to analyze, detect, and correct power quality issues arising from the increase in electric vehicles, a more distributed energy resource mix, and more renewable generation.

“We are pleased with England & Company’s service in closing a significant growth equity investment to fund Powerside’s growth initiatives with new offerings in several key markets: industrial power quality, EV infrastructure, and at the grid edge,” said Dr. Ross Dueber, CEO of Powerside. “England’s power & utility technology team was instrumental to sourcing highly qualified institutional investors, providing strategic advice and execution support throughout the transaction. Their senior bankers and deep bench are a solid complement to Powerside’s leadership team as we continue our rapid growth.”

About Powerside

Powerside has a 75-year legacy in power quality. The company has deployed over 80,000 monitoring solutions and over 15,000 power corrections projects in over 50 countries. Its expert team utilizes a customer-centric approach and a suite of tailored measurement, intelligence, and correction solutions to help customers quickly identify and meet power quality challenges head-on.

 About Energy Growth Momentum

Energy Growth Momentum is a growth equity investor focusing on high-growth digital solutions necessary to drive decentralized and decarbonized energy infrastructure. EGM backs talented management running proven operational and digital technological ventures in their next growth phase by providing them with capital, operational expertise, and an industrial network.

December 2023 –England & Company is pleased to announce the closing of several strategic and financial transactions for Extremity Medical, LLC in 2023. Extremity Medical is an orthopedic medical device company specializing in extremity implants known for improved outcomes, especially in patients with poor bone quality. Based in Parsippany, NJ, Extremity Medical develops and markets proprietary, next-generation products to address fixation, fusion and motion preservation in procedures in the lower and upper extremities, including the foot & ankle, hand, and wrist. It is one of the largest privately held independent companies in the U.S. serving the foot & ankle market.

Extremity Medical has entered into a strategic relationship with Henry Schein, Inc. (NASDAQ: HSIC), a leading FORTUNE 500 global healthcare products and solutions company, and a new entrant into the orthopedic extremities market. The relationship is part of Henry Schein’s expansion in orthopedics and complementary to Schein’s pending acquisition of TriMed, Inc. For more information about Schein’s expansion, please see this link.

Matthew Lyons, Extremity’s Chairman and Chief Executive Officer, said, “We are very excited to be working with Henry Schein in its build up in orthopedic extremities. They will bring significant complementary products and sales channels with TriMed. It’s a perfect fit between Extremity’s full portfolio of innovative lower extremity products and wrist replacement and TriMed’s leading portfolio of upper extremity products.” Lyons added “The England team did a great job identifying this creative opportunity, leading the negotiations and bringing the transaction to the finish line.”

England also closed a total of $21 million in convertible note and working capital financings for Extremity Medical between June and November of this year. Extremity Medical will use the new capital provided by its latest financing to invest in the growth of its business and refinance existing debt. Lyons said “The England team was instrumental in securing us innovative growth and working capital financing solutions in a challenging environment.”

Extremity Medical’s innovative product portfolio includes advanced implant systems for addressing Charcot neuropathy in diabetic patients, as well as less-invasive surgical implants to correct common foot deformities, and address trauma and arthritis. Extremity Medical also offers a revolutionary total wrist replacement to restore more natural wrist motion in arthritic patients.