IEA Energy Services’ merger with M III Acquisition Corp


MIII was advised on the transaction by Stifel, Nicolaus & Company, Incorporated as M&A advisor, and Cantor Fitzgerald & Co. and Jefferies LLC as Equity Capital Markets advisors. Kirkland & Ellis LLP and Ellenoff Grossman & Schole LLP served as legal counsel to MIII. IEA was advised by FMI Capital Advisors Inc. as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

M III Acquisition Corp. (“MIII”) (NASDAQ: MIII), a special purpose acquisition company, finalized its merger with IEA Services LLC (“IEA”) following the receipt of stockholder approval at its special meeting of stockholders held on March 21, 2018 in New York City.

In connection with the consummation of the merger, the combined company changed its name to “Infrastructure and Energy Alternatives, Inc.” and anticipates that the Company’s shares of common stock and warrants will continue trading on the NASDAQ Capital Market, under the new ticker symbols “IEA” and “IEAWW,” respectively, on or shortly after March 27, 2018.

Based in Indianapolis, Indiana, IEA specializes in the design and construction of critical energy infrastructure with a focus on renewable energy projects. As previously disclosed, IEA generated revenue, net income and Adjusted EBITDA for the year ended December 31, 2017 of $454.9 million, $16.5 million and $52.5 million, respectively. IEA’s current total backlog of contracted and awarded wind projects is $1.1 billion, including more than $643.0 million for 2018.

Paul, Weiss represented energy infrastructure company IEA Energy Services LLC with a team including Ellen Ching (Picture), Lawrence Wee, Eric Goodison, Kenneth Schneider and David Huntington; tax partner Patrick Karsnitz; real estate partners Mitchell Berg and Peter Fisch and counsel Barry Langman; litigation partners Daniel Kramer and Gregory Laufer; employee benefits partner Robert Fleder and counsel Reuven Falik; antitrust counsel Marta Kelly; environmental counsel William O’Brien; and intellectual property counsel Jonathan Ashtor.

Involved fees earner: Ellen Ching – Paul Weiss Rifkind Wharton & Garrison; Kenneth Schneider – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Lawrence Wee – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Eric Goodison – Paul Weiss Rifkind Wharton & Garrison; Patrick Karsnitz – Paul Weiss Rifkind Wharton & Garrison; Mitchell Berg – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Barry Langman – Paul Weiss Rifkind Wharton & Garrison; Daniel Kramer – Paul Weiss Rifkind Wharton & Garrison; Gregory Laufer – Paul Weiss Rifkind Wharton & Garrison; Robert Fleder – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Jonathan Ashtor – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: IEA Energy Services;

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Author: Ambrogio Visconti