 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1999; 26 years ago (1999) |
| Founders |
|
| Headquarters | , |
| Services | Investment banking,mergers and acquisitions |
Number of employees | 100 (2021) |
| Website | www |
Marathon Capital is an Americanboutique investment bank delivering financial advice to the global energy, infrastructure markets, andclean economy. Marathon Capital specializes in the sale and financing of companies, portfolios and assets within these markets.
Marathon Capital, founded in 1999, is privately held. Investment banking is conducted through wholly owned subsidiary Marathon Capital Markets, LLC and regulated by theFinancial Industry Regulatory Authority (FINRA) in the United States and by the Ontario Securities Commission (OSC) in Canada where the firm operates as anExempt Market Dealer.[1][2][3]
Marathon Capital employs over 100investment bankers in the areas ofrenewable energy,mergers,acquisitions, restructuring, project finance and capital raisings. The firm has offices inChicago,New York City,San Francisco,Houston, andLondon.
In 1999, Ted Brandt and Gregg Elesh co-founded Marathon Capital.[4] Brandt serves as the CEO.[5] Both had backgrounds in commercial finance, leasing, and structured finance. During 2001, Marathon Capital began its focus on alternative energy. The firm competes with “bulge bracket” firms for its engagements.[6] Marathon Capital periodically acts as a co-manager with other investment banks to facilitate client transactions. Marathon Capital has been involved in several high-profilewind power mandates from American Wind Capital Corporation (USA), Suzlon Wind Energy Corporation (USA), EchoFirst (USA), SkyPower Corp. (Canada), Allco Finance Group (Australia) and Greenlight Energy (USA).[7]
Marathon Capital has handled the transactions for the following clients: American Wind Capital Company's sale of company and portfolio to Hannon Armstrong;[8] Suzlon's sale of 240MW Big Sky Wind Farm to EverPower,[9] the restructuring and sale of Middlesex Generation toGeneral Electric (landfill gas to electric); Steamboat II/III toOrmat Technologies (Geothermal); the sale of Greenlight Energy toBP plc (Wind),[10] AMP Resources toEnel (Geothermal),[11][12][13][14] Heelstone Energy Holdings LLC to Sammons Renewable Energy,[15] OCI Solar Power’s 66MW Project Ivory to Desri,[16] Empower Energies’ DG Solar Fund,[17] CPV Wind toIberdrola (Wind),[18] SkyPower Corp. toLehman Brothers (Wind and Solar)[19][20] and Ridgeline Energy toVeolia Environment (Wind).[21] The sale of the project byAllco Finance Group generated cash proceeds of A$346 million.[22]
Other transactions Marathon Capital has played a key role in include: the sale of Tehachapi 3.1 GW wind project,[23] the creation of the leading IPP withPattern Energy andRiverstone Holdings,[24] the formation of a privateYield co forEdison International withAMP Capital and TIAA-CREF,[25] the sale ofFirst Wind toSunEdison[26] and Terraform,[27] and the sale of Alterra and development pipeline toInnergex.[28]
Marathon Capital employs over 100investment bankers[29] in the areas of capital raising, commercial finance, engineering,mergers andacquisitions, power plant development, project finance,renewable energy and restructuring[30] for the wind, solar, energy storage, renewable fuels, sustainable technology, e-mobility, hydrogen and distributed generation sectors.[31]
The firm has offices inChicago,London,[32]New York City,Houston, andSan Francisco and a representative office in Canada.[33]
Marathon Capital's clients include developers, independent power producers, utilities, government entities, oil and gas companies and energy service providers focused on buying, selling, capitalizing, leveraging and/or restructuring a specific situation, company, project or asset. Marathon Capital has completed transactions involving district energy,cogeneration,geothermal power,wind power,solar power,landfill gas, demand-side energy conservation and has interest in additional transactions focusing onalternative fuel and chemicals,biomass power,energy management system,fuel cell, hydro, and energy-efficiency.[34]
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