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29 August 20214 minute read

DLA Piper advises FlexGen Power Systems in US$150 million equity investment from funds managed by affiliates of Apollo Global Management

DLA Piper represented FlexGen Power Systems, Inc., a leading integration services and software technology provider for energy storage solutions in the US and globally, in a growth equity investment of US$150 million from funds managed by affiliates of Apollo Global Management, Inc. Apollo's investment will be made in partnership with FlexGen's existing investors, Altira Group and the founding investment group led by Jerry Miller and Mark Dreyfus.

Since its founding in 2009, FlexGen has supported deployments of more than 1.2 GWh of energy storage systems across the US and internationally for utility, microgrid, and commercial and industrial (C&I) customers. The company's proprietary software platform allows energy storage owners to deploy various power market strategies and combine storage solutions with any form of generation.

“It was a pleasure to advise FlexGen on this transaction, bringing together our extensive technology and private equity experience to facilitate a successful outcome. This investment will allow our client to accelerate its growth while continuing to develop innovative energy storage solutions to propel the clean energy transition,” said Joe Alexander, DLA Piper’s US vice chair and the partner who led the firm’s deal team.

In addition to Alexander (Miami), the DLA Piper team representing FlexGen included partners Adam Brenner (New York), Daniel Rollman (Atlanta), Jordan Bailowitz (Baltimore), Julia Kovacs (Washington, DC), William Bartow (Philadelphia) and Paolo Morante (New York); and associates Sam Neece (Dallas), Kenneth Duncan and Ryan Fitzpatrick (both of New York).

DLA Piper’s Private Equity practice includes more than 100 US lawyers who provide strategic counsel to private equity funds and the industry-leading companies they invest in. Pitchbook has repeatedly recognized DLA Piper as one of the most active private equity law firms globally, further solidifying the strength of the firm’s team and its depth of experience executing private equity transactions. 

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.