Industrials | Mergers & Acquisitions

Synergics Completes Sale of Hydroelectric Portfolio

  • TM Capital acted as exclusive financial advisor to Synergics Energy Services, LLC in the sale of an 8 MW portfolio of Maine hydroelectric assets in separate transactions with Essex Hydro Associates, LLC and Epico USA Inc., a subsidiary of Epico S.r.l.
  • Synergics, a developer of hydroelectric and wind power projects with over 25 years of experience, retained TM Capital after having participated in prior TM Capital led auctions for hydroelectric facilities
  • The portfolio included Messalonskee Stream Hydro, a FERC project with 6.2 MW of capacity at three generating stations, and three other FERC projects with 1.8 MW of capacity at four generating stations
  • After conducting a broad auction, TM Capital identified the opportunity to maximize value through separate sales of Messalonskee Stream Hydro and the remaining projects as most buyers allocated value primarily to the larger Messalonskee project
  • Both transactions were completed expeditiously, with less than five months total time from initial buyer contacts to closing
  • Essex Hydro Associates, LLC is a privately held owner of US hydroelectric facilities. Epico S.r.l. is a Rome, Italy based investment company specialized in the renewable energy sector