BOSTON, MA—March 24, 2011—Stonebridge Associates announced today that it served as exclusive financial advisor to Bluestone Energy Services  on its recent sale to GFI-backed OpTerra Energy Group of Denver, Colorado. Headquartered in Norwell, Massachusetts, Bluestone is an established leader in energy conservation engineering and project development services for commercial and institutional customers in the Northeast, Mid-Atlantic and Great Lakes regions. The company designs, markets, and implements comprehensive, turnkey energy efficiency solutions for a broad range of customers, including data centers, hospitals, universities, and manufacturing facilities.
Stonebridge assisted Bluestone in responding to a pre-emptive inquiry from OpTerra—managing all aspects of the sale process and negotiating a transaction that enabled Bluestone to receive a significant amount of liquidity at closing and retain both a material equity interest and ongoing leadership role in the acquiring company. Bluestone's CEO and founder, Peter Fairbanks, says "Stonebridge provided exceptional guidance to us throughout the entire process. They were able to help us anticipate potential challenges and develop creative solutions to a variety of complex deal issues. When we were first approached, I wasn't sure that we needed an advisor. I am extremely pleased with the outcome, however, as Stonebridge's expertise allowed us to structure a transaction that enabled us to both realize a significant return on our historical investment in Bluestone and remain invested in, and intimately involved with, what is now a national platform".
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Stonebridge Associates specializes in providing merger and acquisition (M&A), divestiture, private placement, and strategic financial advisory services to middle market and emerging growth technology companies. Applying industry experience and structuring expertise to every engagement, Stonebridge Associates develops creative solutions to help clients achieve superior outcomes. Since 1986, Stonebridge has closed over $3 billion in private financings and advised on over 300 M&A transactions and advisory assignments. Member FINRA/SIPC.
Since 1990, Bluestone Energy Services has provided professional engineering and project development services for commercial and institutional clients. Bluestone is a leader in energy efficiency and demand-side management programs for large commercial customers and has developed and implemented hundreds of lighting, HVAC, mechanical and controls-enabled energy conservation projects.
OpTerra is a rapidly expanding energy services company whose regional divisions evaluate, design, and implement energy efficiency solutions for governmental, educational, institutional, and commercial customers across the US. OpTerra is a portfolio company of GFI Energy Group, a specialized investment team within Oaktree Capital Management.
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