Utilities M&A » By The Online Investor Staff, updated Fri., Apr. 19, 10:10 PM
Recent mergers and acquisitions in the Utilities M&A category.
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Slide #31. ForceField Energy — American Lighting
Acquirer:
ForceField Energy (NASDAQ:FNRG)
Acquiree:
American Lighting
Details:
ForceField Energy Inc. ("ForceField", or the "Company") (Nasdaq:FNRG), a designer, seller and distributor of energy products and solutions, today announced the signing of a letter of intent ("LOI") to acquire American Lighting & Distribution ("ALD"), a San Diego, California award-winning, leading energy-efficient, commercial lighting specialist with over 20,000 installed customers and standing relationships with many of the major California utility companies, including Pacific Gas and Electric Company (PG&E), Southern California Edison (SCE), and San Diego Gas & Electric (SDG&E). Their customers include many prominent and recognizable companies including over 100 hotels, 300 schools, and over 200 auto dealerships. The closing of the transaction is expected to occur on or before May 1st 2014.
ForceField Energy is a designer, distributor, and licensee of alternative energy products and technologies. The ORC segment consists of the operations of TransPacific Energy, Inc., which designs and installs proprietary modular Organic Rankine Cycle units utilizing refrigerant mixtures to maximize heat recovery and convert waste heat directly from industrial processes, solar and geothermal, biomass converting it into electrical energy. The LED segment consists of the business of ForceField Energy USA, Inc. and ForceField Energy S.A. that distributes LED lighting products manufactured in China by Shanghai Lightsky Optoelectronics Technology Co., Ltd. in the North American markets.
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