Press Release SmartPitch
Seale & Associates, Inc. announced that it acted as a financial advisor to SmartPitch Ventures ("SmartPitch"), a private equity investment fund, on the acquisition and financing of New Energy Equity ("NEE"), a Maryland-based solar power project developer. In addition to advising on the transaction, Seale arranged three senior credit facilities including acquisition financing. Through the acquisition, SmartPitch will accelerate their growth and will strengthen their position as one of the key developers focused on distributed generation and community solar in the United States.
New Energy Equity, founded in 2013 and headquartered in Annapolis, Maryland, develops and oversees solar power generation assets, providing clean electricity to commercial, industrial, municipal and utility customers under long-term contracts. NEE successfully installed 60 MW of new solar capacity in 2018, part of an overall development portfolio of over 200MW since 2013. To date, it has successfully completed more than 150 projects, totaling more than 145 megawatts across the United States.
SmartPitch Ventures (SmartPitch), headquartered in Fairfax, VA, is a late stage venture capital and private equity firm focused on the energy investments. SmartPitch was founded by Gautam Chandra and Sanjiv Mahan, former senior executives at Washington Gas Light Company. Mr. Chandra and Mr. Mahan are industry leaders in renewable energy and invested over $2 billion built national platforms in renewable energy, distributed generation, and competitive energy and technology businesses.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings. For more information, please visit www.sealeassociates.com.