Comprehensive Due Diligence on an Aggressive Schedule

Working on a very aggressive schedule, the Concentric team evaluated the potential acquisition of an electric utility owned by a public utility holding company. We completed a deep dive due diligence assessment and summary presentations to enable our client to evaluate the target as thoroughly as possible using publicly available information.

At the request of our client’s executive team, we prepared detailed due diligence reports and presentations addressing:

After delivering the due diligence report, we helped our client use this knowledge to inform the valuation and terms of a potential transaction.

Day One Merger Integration Preparedness

“The importance of a strong Integration Management Office, and effective and engaging communication with the buyer’s and seller’s workforces through well-organized, multi-functional teams with clear mandates and workplans cannot be underestimated.  The information and support gained from this process allow integration plans to evolve to meet the organization’s dynamic needs.”
— Lisa Quilici, Senior Vice President of Concentric, and Carrie O’Neill, Assistant Vice President of Concentric

Concentric recently supported the development and execution of Day One merger integration plans and ongoing integration activities in the merger of two electric companies. Our team was an integral part of the Integration Management Office, providing oversight, guidance, and direction to multi-functional integration teams and supporting the development of workplans to ensure Day One preparedness.

The multi-functional teams included generation, engineering, operations, supply chain, IT, HR, customer service, facilities, finance, regulatory, corporate communications, and real estate.  We participated in meetings with the integration and executive teams and provided specific corporate communications and regulatory support. We also provided regular progress reports to the executive teams.

And Two Become One, A Brief Strategic Merger Story

“Working as an integral part of our client’s team throughout the structuring of the transaction and the regulatory approvals process allowed us to support them for many years as they realized, and reported, the benefits of the transaction.”
-Lisa Quilici, Senior Vice President of Concentric

Concentric was retained to assist our client, a public utility holding company, in acquiring another public utility holding company. We provided comprehensive due diligence on the regulatory and statutory requirements necessary to secure the jurisdictional regulatory approvals, and further supported the transaction by:

Following the transaction approval, our team continued to support the integration of the two companies, including realizing merger synergies and reporting to the regulatory commissions.

Valuation Litigation

Concentric was retained by the attorneys of a confidential client related to a reorganization plan filed in the U.S. Bankruptcy Court and the value of the client pursuant to that reorganization plan.  With less than two weeks of advance preparation, Concentric served as the clients’ sole expert on a key feature of the valuation formula.  The bankruptcy court ruled in favor of our client, and the contested issue had the effect of changing the enterprise value by $500 million.  Contact info@ceadvisors.com to learn more.

Briana Adams

The Vermont Department of Public Service

The Vermont Department of Public Service engaged Concentric to prepare an assessment of the financial aspects of the proposed transfer of the Vermont Yankee nuclear station from a subsidiary of Entergy Corporation to NorthStar Decommissioning Company, LLC, including the financial assurances proposed by NorthStar if the transfer were approved, and the financial capabilities of NorthStar to complete the decommissioning, site restoration, and spent nuclear fuel management at Vermont Yankee.

After multiple rounds of testimony, the parties reached a Memorandum of Understanding that called for additional financial assurances to be provided by the buyer and seller, and Concentric submitted testimony assessing those additional assurances.  Concentric also provided live testimony before the Vermont Public Utility Commission in Montpelier, VT.  The transfer was approved by the Commission on December 6, 2018.

 

Joshua C. Nowak

Todd A. Shipman

Country Risk Premiums & Cost of Equity

Francis X. Pampush

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