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Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
It noted that Trump’s “Big Beautiful Bill” placed strict limitations on sourcing materials from countries such as China.
Those strictures put “extreme pressure” on Pine Gate’s liquidity and collapsed the value of projects it had used as collateral, according to the Financial Times.
Pine Gate CEO Ben Catt said the Chapter 11 will enable it to pursue a “strategic and value-maximizing sales process for substantially all of its assets and business operations.”
The company has brought in Mark Rajcevich, managing director at Alvarez & Marsal, as chief restructuring officer.
Founded 10 years ago, Pine Gate has closed on about $10B in project financing and capital investment. It has partners at more than 100 operational solar facilities.
Joele Frank, Wilkinson Brimmer Katcher’s Andy Brimmer, Aaron Palash and Richard Goldman handle Pine Gate.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
Burson Buchanan handles AAR Corp as the supplier of parts and services to the aviation market acquires a 65 percent stake in MRO Holdings.
The financial services industry thinks it needs more communications, when the real issue is credibility—and that requires entirely different solutions.
Starting out with the goal of creating a “different model” for communications, Tier One’s leaders discuss creating value for firms in financial/fintech, professional services and other high-tech industries.
