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June 2021 Monthly Update

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June 2021 Monthly Update Sustainable Technology and Infrastructure Monthly Market Update // June 2021 Performance of Key Market Indices1 200% 150% 133.1% 100% 42.8% 50% 36.4% 37.9% 0% Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 NASDAQ Clean Edge Green Energy MSCI World Index NASDAQ Composite S&P 500 1 Index Performance June Ending Versus June YTD CY 2020 52 Wk High 52 Wk Low MSCI World Index (1.1%) 12.2% 14.1% (0.3%) 37.0% NASDAQ Composite (1.1%) 12.5% 43.6% (0.2%) 44.2% S&P 500 (1.4%) 14.4% 16.3% 0.0% 38.6% NASDAQ Clean Edge Green Energy 4.5% (1.4%) 182.4% (21.5%) 133.8% Denotes Nomura / Nomura Notable Recent Transactions & Capital Raises Greentech Transaction Date Target Acquirer Transaction Description Partners Group, a Swiss private markets firm, has agreed to acquire a controlling equity Dimension Renewable Jun. 28 Partners Group stake in Dimension Renewable Energy, an Atlanta-based distributed energy platform Energy Corporate M&A focused on community solar and battery storage, for an undisclosed sum Transactions Enlight Renewable Enlight Renewable Energy, an Israel-based company engaged in clean electricity Jun. 30 Clenera Energy production projects, acquired Clenera, a U.S.-based renewable energy firm, for $390mm Date Company Transaction Description Northvolt, a Sweden-based manufacturer of battery and electronic components, raised $2.8bn led by Swedish Jun. 9 Northvolt pension funds and OMERS Capital Markets Capital Raises Aspen Aerogels, a U.S.-based aerogel technology company leveraging its technology to improve thermal Jun. 29 Aspen Aerogels performance of electrical vehicles, raised $75mm from Koch Strategic Platforms, a subsidiary of Koch Investments Group focused on strategic partnership with new innovative companies Date Company Transaction Description Broadstone Acquisition Corp., a SPAC, acquired Vertical Aerospace, a U.K.-based electric vertical takeoff and Jun. 10 Vertical Aerospace landing aircraft (eVTOL) maker, at a pro forma equity value of $2.2bn SPAC Transactions Leo Holdings III Corp, a SPAC, acquired Local Bounti, a U.S.-based indoor agriculture startup, at a pro forma Jun. 17 Local Bounti equity value of $1.1bn About Nomura Greentech Nomura Greent ec h is a f ully integrated inv es tm ent banking t eam wit hin Nomura whic h provides M&A and strategic advisory services and rais es capital for sustainable t ec hnology and infrastructure clients, globally. The t eam focuses exclusively on clients whic h are using 21st century technologies to ac c elerate the transformation of our c ore infrastructure systems – energy , transportation, f ood, wat er and waste – to be lower carbon, more efficient and digit ally networked. Nomura Greentech connects high-growth leading innovators with large global incumbents and capital providers, and since it s founding in 2009 has closed over 140 transactions with sustainabletechnology and infrastructure companies and investors. Source: FactSet, SEC filings and third-party providers. 1 1. Performance does not include reinvestment of dividends. Select Recent Sustainable Technology & Infrastructure M&A Transactions (1/4) Corporate Transactions Transaction Multiple1 Transaction Date Target Acquirer Value ($mm) Subsector Transaction Description Revenue EBITDA De Nora, a manufacturer of electrodes for chemical processing technologies, acquired ISIA, Jun. 1 ISIA De Nora ND Water ND ND a provider of water purification services, for an undisclosed sum Macquarie Asset Management, a global Macquarie Asset Environmental investment firm, acquired Beauparc Utilities, a Jun. 1 Beauparc Utilities ND ND ND Management Services waste management and utility solutions company, for an undisclosed sum Pennon Group, a provider of utility services, Jun. 3 Bristol Water Group Pennon Group $1,100 Water acquired Bristol Water Group, a supplier of ND ND drinking water, for $1.1bn Platinum Equity, a global investment firm, Environmental acquired Urbaser, an environmental Jun. 6 Urbaser Platinum Equity $4,200 1.5x ND Services management company that provides waste, water and landscape services, for $4.2bn ERMA FIRST, a manufacturer of ballast water equipment, acquired RWO, a provider of water Jun. 7 RWO ERMA FIRST ND Water ND ND and wastewater treatment systems for ships and offshore platforms, for an undisclosed sum McKim & Creed, a provider of civil engineering services, acquired GSA Consulting Engineers, a GSA Consulting Jun. 8 McKim & Creed ND Water provider of engineering consulting services for ND ND Engineers water and wastewater facilities, for an undisclosed sum De Nora, a manufacturer of electrodes for Calgon Carbon's chemical processing technologies, acquired the Jun. 9 UV Technologies De Nora ND Water UV Technologies Division of Calgon Carbon, a ND ND Division producer of purification chemicals, for an undisclosed sum China Gezhouba Group Corporation, a provider of construction and engineering services, China Gezhouba acquired a 5% stake to be the controlling Jun. 10 Poten Environment $88 Water ND ND Group shareholder of Poten Environment, a provider of water treatment and management equipment, for $88mm Mueller Water Products, a manufacturer of products used in the transmission, distribution, Mueller Water Jun. 14 i2O Water $20 Water and measurement of water, acquired i2O Water, ND ND Products a provider of intelligent water networks and pressure management solutions, for $20mm RSK Group, a provider of integrated environmental, engineering and technical Minerex Environmental Jun. 14 RSK Group ND services, acquired Minerex Environmental, an ND ND Environmental Services environmental services company, for an undisclosed sum Recycle Track Systems, a provider of waste and recycling management services, Recycle Track Environmental Jun. 15 Enevo Inc. ND acquired the U.S. account of Enevo, Inc., an ND ND Systems Services analytics and software platform for waste and recycling, for an undisclosed sum Gopuff, an on-demand goods delivery company, Advanced acquired rideOS, a developer of a Jun. 17 rideOS Gopuff $115 ND ND Transportation transportation marketplace and an auto mapping technology, for $115mm Source: FactSet, Press releases, SEC filings and Third-party providers. 2 1. Transaction multiples represent EV/LTM Revenue and EV/LTM Adj. EBITDA. Select Recent Sustainable Technology & Infrastructure M&A Transactions (2/4) Corporate Transactions Transaction Multiple1 Transaction Date Target Acquirer Value ($mm) Subsector Transaction Description Revenue EBITDA Ford acquired Electriphi, a provider of charging Advanced and fleet monitoring software for Jun. 17 Electriphi Ford ND ND ND Transportation customers transitioning to electric fleets, for an undisclosed sum Audax Private Equity, a private equity firm, Jun. 18 SJE Audax Private Equity ND Water acquired SJE, a manufacturer of control solutions ND ND for water and wastewater, for an undisclosed sum Ingersoll Rand, a provider of industrial flow Jun. 21 Seepex Ingersoll Rand $514 Water solutions, acquired Seepex, a manufacturer of 2.7x ND positive displacement pumps, for $514mm SUEZ, an operator of municipal water distribution and treatment systems, acquired Inflowmatix, a Jun. 22 Inflowmatix SUEZ ND Water ND ND developer of water management and operation technology, for an undisclosed sum EcoSouth, a non-hazardous waste hauling and Desoto Recycling & disposal services provider and a portfolio Disposal and Environmental company of Kinderhook Industries, acquired Jun. 23 EcoSouth ND ND ND Gabbert Waste Services Desoto Recycling & Disposal and Gabbert Waste Solutions Solutions, collectively a vertically integrated waste company, for an undisclosed sum Grupo Energia Bogota, a Colombian power and gas company, announced an agreement to merge Grupo Energia Renewable with Enel Americas SA, a conglomerate of electric Jun. 23 Enel Americas SA ND ND ND Bogota Energy energy companies operating in South America, to create a major Central American vertically integrated utility and renewable energy giant Mainstream Renewable Power, an Irish solar and Technology and wind developer, acquired a 80% stake in Mainstream Renewable Jun. 28 Development Joint ND Technology and Development Joint Stock Co., ND ND Renewable Power Energy Stock Co. which is developing a 405 MW solar portfolio in central Vietnam, for an undisclosed sum Almar Water Solutions, a provider of water infrastructure development services, acquired a Almar Water Jun. 28 Aguas y Riles ND Water 50% stake in Aguas y Riles, a provider of ND ND Solutions sustainable water management solutions, for an undisclosed sum Partners Group, a Swiss private markets firm, has 2 agreed to acquire a controlling equity stake in Dimension Renewable Jun. 28 Partners Group ND Dimension Renewable Energy, an Atlanta-based ND ND Renewable Energy Energy distributed energy platform focused on community solar and battery storage, for an undisclosed sum Enlight Renewable Energy, an Israel-based 3 Enlight Renewable Renewable company engaged in clean electricity production Jun. 30 Clenera $390 ND ND Energy Energy projects, acquired Clenera, a U.S.-based renewable energy firm, for $390mm Source: FactSet, Press releases, SEC filings and Third-party providers. 1. Transaction multiples represent EV/LTM Revenue and EV/LTM Adj. EBITDA. 2. Nomura Greentech acted as Financial Advisor to Dimension Renewable Energy. 3 3. Nomura Greentech acted as Financial Advisor to Enlight Renewable Energy. Select Recent Sustainable Technology & Infrastructure M&A Transactions (3/4) Asset Transactions Transaction Capacity Date Seller Acquirer Value ($mm) (MW) Subsector
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