Deal Details
Sale to GDF SUEZ
Summary
Baird served as the exclusive financial advisor to Ecova, Inc. on this transaction.
About
Ecova, Inc. (“Ecova”), an indirect subsidiary of Avista Corp. (“Avista”) (NYSE:AVA), was recently acquired by Cofely USA, Inc., an indirect subsidiary of GDF SUEZ (ENXTPA:GSZ), a French multinational utility company for approximately $335 million, less the payment of debt and other customary closing adjustments.Ecova is a leading provider of technology-enabled energy and sustainability management solutions to commercial, industrial and utility clients in North America. Ecova’s technology-optimized solutions help clients manage and navigate the complexities of energy and resource management to reduce cost and consumption. Ecova serves more than 700,000 clients sites and manages over $20 billion of energy and other resource spend. Ecova is headquartered in Spokane, Washington with more than 1,400 employees throughout North America.
Avista is an energy company consisting of regulated electric and natural gas distribution as well as several non-regulated, energy-focused businesses. Avista is headquartered in Spokane, Washington.
Cofely USA, Inc. is part of GDF SUEZ Energy Services, one of the five business lines of GDF SUEZ Group. GDF SUEZ Energy Services is a global player in energy efficiency, multi-technical services and outsourcing for companies and communities whose experts design, develop and manage tailored smart and sustainable solutions for its customers’ benefit. GDF SUEZ Energy Services has more than 90,000 employees in nearly 40 countries.
For additional information about this transaction, please contact:
- Date
- June 2014
- Company
- Ecova, Inc.
- Transaction
- M&A
- Sectors
- Technology & Services
- Target Geography
- Europe
- Acquiror Geography
- North America
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