Morrison & Foerster represented Huck Capital, an investment firm committed to transforming the century-old utility model, and provided diligence support to Schneider Electric (EURONEXT:SU), the global leader in sustainable energy solutions, in their investment in Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem.
The transaction, in which Huck Capital and Schneider Electric led an investor group, values Uplight at $1.5 billion. It includes the investment of new equity to support significant organic and inorganic growth and adds world-class strategic and financial partners as the energy industry surges forward into transformation. The transaction is subject to customary regulatory approvals.
Uplight's software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Uplight currently serves more than 80 energy providers, representing 110 million energy consumers, with the market's widest array of sustainable digital solutions.
The MoFo deal team advising Huck Capital and Schneider Electric on the transaction was led by San Francisco corporate partner Suz Mac Cormac and Palo Alto corporate partner Mike Krigbaum, with support from San Francisco associates Nicholas DeCoster, Olga Terets, Benjamin Fox, and John O'Neill, and Palo Alto associate Shiri Shenhav. The broader team included Tax partners Maureen Linch (San Francisco) and Shane Shelley (San Diego), and associate Philip Jaworskyj (New York); Executive Compensation partner Amanda Hines Gold (San Francisco); Privacy + Data Security partner Julie O'Neill (Boston) and associate Cecillia Xie (New York); and Employment + Labor of counsel Oswald Cousins (Palo Alto).