Responsive Accounting Support Critical to Successful EnergySage Merger
For nearly a decade, EnergySage has empowered consumers across the country through education, transparency, and freedom of choice for their residential solar projects. EnergySage created a marketplace to support solar installation companies, equipment manufacturers, financiers, and service providers growing their businesses. The company hit a pivotal point in its lifecycle – it needed additional capital to expand its impact on the growing clean-energy resources market. Schneider Electric acquired the company and management sought out the support of its Wolf’s team to meet the reporting requirements at different milestones in the acquisition process.
Challenge
The merger agreement called for specific reporting conforming to defined parameters with tight turnarounds. The company’s finance team acknowledged its limitations in being able to meet the demands of acquisition reporting and lacked the staff resources to spread the reporting responsibilities.
Solution
Management asked the Wolf team to guide them through interpretation of the merger agreement definitions. Wolf offered an independent set of eyes on the company’s reporting, providing valuation insights for modifying certain areas of the reporting as well as validating management’s approach to preparing the reporting package.
Wolf & Company’s team was responsive and professional in providing guidance to properly account for the transaction components. Their team’s attention to detail and industry knowledge made both the acquisition and post-acquisition process as painless as possible.”
Vikram Aggarwal
CEO
EnergySage
Result
Wolf provided timely and responsive support leading to a successful merger while satisfying all parties in the acquisition with the post-acquisition reporting requirements. Wolf’s effective acquisition support was rooted in the Wolf team’s:
Ability to realign schedules and prioritize management’s needs.
Years of industry experience and deep understanding of the company’s business.
Significant experience with acquisition reporting.
