American Securities’ Acquisition of the Renewable Energy Division of Swinerton Builders and SOLV

Farella Braun + Martel represented Swinerton Incorporated, while Weil, Gotshal & Manges represented American Securities in the transaction.

American Securities LLC, a leading U.S. private equity firm, has entered into a definitive agreement to acquire the Renewable Energy division of Swinerton Builders, commonly known as Swinerton Renewable Energy (SRE), and wholly-owned subsidiary SOLV, Inc. from Swinerton Incorporated.

This transaction will combine Swinerton’s existing Engineering, Procurement and Construction and Operations and Maintenance service groups together under one company name, SOLV Energy, LLC. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions.

The transaction closed on December 23, 2021.

Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $25 billion under management.

Founded in 1888, Swinerton Incorporated is a $5 billion organization that offers commercial construction and management services, including mass timber, facility solutions, concrete, drywall, doors/frames/hardware, and other trade expertise across the U. S. through its companies and affiliated partners, most notably Swinerton Builders, Timberlab, Inc., and SAK Builders, Inc. Swinerton is 100% employee-owned and a trusted partner in every market it serves–proudly leading with integrity, passion, and excellence. 

Lazard is serving as exclusive financial advisor to Swinerton Incorporated.

The Weil team advising American Securities is led by Mergers & Acquisitions Head Michael Lubowitz (Picture) and Private Equity counsel Ryan Taylor and includes Mergers & Acquisitions associates Rachel Shapiro, Thomas Tsatsis and Victor Wang. The team also includes Banking & Finance partner Andrew Colao; Banking & Finance associates Jacqueline Oveissi and Phong Bui; Tax partners Mark Hoenig and Jonathan Macke; Tax associate Jesse Hong; Executive Compensation & Benefits Head Paul Wessel; Executive Compensation & Benefits associates Akansha Mishra and Robin Caskey; Technology & IP Transactions partner Jeffrey Osterman; Technology & IP Transactions/Privacy associates Robert Brown, Lauren Springer, Phillip Grudzina and Tyler Fredricks; Real Estate counsel Jannelle Seales; Real Estate associate Derek Namerow; Environmental Head Annemargaret Connolly; Environmental counsel Thomas Goslin; Antitrust partner Vadim Brusser; Antitrust associate Marie-Marie de Fays; Employment Litigation counsel Celine Chan; and Employment Litigation associate Omar Abdel-Hamid (Not Yet Admitted in New York).

The Farella M&A team was led by Philip Peters, supported by tax partner Said Kordestani, and corporate associates Drew Goodwin and Shannon Kimball.

Involved fees earner: Drew Goodwin – Farella Braun + Martel; Shannon Kimball – Farella Braun + Martel; Said Kordestani – Farella Braun + Martel; Philip Peters – Farella Braun + Martel; Omar Abdel-Hamid – Weil, Gotshal & Manges; Robert Brown – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Phong Bui – Weil, Gotshal & Manges; Robin Caskey – Weil, Gotshal & Manges; Celine Chan – Weil, Gotshal & Manges; Andrew Colao – Weil, Gotshal & Manges; Annemargaret Connolly – Weil, Gotshal & Manges; Marie-Marie de Fays – Weil, Gotshal & Manges; Tyler Fredricks – Weil, Gotshal & Manges; Thomas Goslin – Weil, Gotshal & Manges; Phillip Grudzina – Weil, Gotshal & Manges; Mark Hoenig – Weil, Gotshal & Manges; Jesse Hong – Weil, Gotshal & Manges; Michael Lubowitz – Weil, Gotshal & Manges; Jonathan Macke – Weil, Gotshal & Manges; Akansha Mishra – Weil, Gotshal & Manges; Derek Namerow – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; Jacqueline Oveissi – Weil, Gotshal & Manges; Jannelle Seales – Weil, Gotshal & Manges; Rachel Shapiro – Weil, Gotshal & Manges; Lauren Springer – Weil, Gotshal & Manges; Ryan Taylor – Weil, Gotshal & Manges; Thomas Tsatsis – Weil, Gotshal & Manges; Victor Wang – Weil, Gotshal & Manges; Paul Wessel – Weil, Gotshal & Manges;

Law Firms: Farella Braun + Martel; Weil, Gotshal & Manges;

Clients: American Securities LLC; Swinerton;