Project Franklin is the sale of a residential energy storage system manufacturer located in Germany and owned by a utility. The manufacturer is a leading technology company in the European residential energy storage market and was the third largest manufacturer of residential energy storage systems in Germany in 2016.

Fieldstone was selected because of its knowledge of the technology in its core sector and the interface with various domestic electricity systems on an international basis. The client had previously used Fieldstone in an acquisition process in its core competency.

We conducted a review of the manufacturer to identify areas of value maximisation prior to the sale process. We then prepared marketing materials (including information memorandum, financial model, teaser, management presentation) to ensure bidders had a comprehensive understanding of the market and the growth potential of the manufacturer.

Following this, we proposed and engaged with a range of investors from around the world – including utilities, family offices (financial investors) and technology firms (each of which was represented in the selected final offers).

Fieldstone managed the highly technical due diligence process with multiple parties, enabling the management to maintain their operations while undergoing comprehensive due diligence from multiple parties. During the due diligence, we advised purchasers that the manufacturer had increased its market share by nearly 50% during 2017 and achieved multiple key developmental milestones during the sale process, which positively affected the price.

Finally, Fieldstone helped the client evaluate the final offers through a matrix of price and terms. The project closed in December 2017 above the upper range of the seller’s anticipated sale value.