October 19, 2022
On October 7, affiliated funds of Willkie client Longbow Capital Inc. closed on their investment in Amped Up Power Solutions, Inc. The investment consisted of (a) an initial purchase by the Longbow Funds of debentures issued by Amped Up, (b) a commitment by the Longbow Funds to purchase additional Amped Up debentures and (iii) an equity kicker representing a substantial minority position in Amped Up's outstanding equity.
Longbow Capital is a Canadian-based private equity firm that invests in lower middle market energy-related companies.
Amped Up is a Denver-based business that provides a cleaner, safer, and more cost-effective solution to power ancillary equipment on an oil and gas well location during drilling, completions, drill-out, and workover operations. Amped Up offers its customers significant cost and emissions savings compared to using diesel, higher reliability due to centralized power distribution across a wellsite, and improved workplace safety due to reduced noise levels and spill incidence. To date, Amped Up has seen strong demand from customers to help them shift away from diesel power and to focus on electrification and on-site microgrid integrations.
The Willkie deal team included partners Jay Hughes, Andrew Thomison and Robert Jacobson and associates Aaron Savella, Devin Crisanti and Hayden Kursh.
