Smart grid startup Eka Systems hired Greentech Capital Advisors as its financial adviser in its acquisition yesterday by Cooper Industries for an undisclosed amount.
We caught up with Greentech Capital’s Craig Wellen, who worked on the Eka deal. He expects a healthy M&A deal flow this year in the cleantech sector as large industrial companies continue buying small, cash-hungry companies developing promising technologies, including smartgrid systems.
“[smartgrid and cleantech] companies with promising technologies can unlock more value by being part of a larger industrial,” he explains.
He mentions that Greentech is involved in another deal, in the U.S. solar space. Acquisition talks are ongoing and he expects a public announcement in the next few weeks, declining to provide further details.
No word on whether Cooper also hired an outside adviser. We’ve reached out to them and will post with any update.