DLA Piper advises Six One Commodities in its acquisition of RiverCrest Power Holdings

DLA Piper advised Six One Commodities (61C), a global merchant of physical energy commodities and physical supply services and structures provider, in its acquisition of RiverCrest Power Holdings (RiverCrest), a data-driven energy trading company and subsidiary of BioUrja Group.

Since its founding eight years ago, RiverCrest has developed a track record of generating strong, risk-adjusted returns using proprietary analytical models and advanced power flow analysis. They are a virtual participant in the electricity markets, taking financial positions in the Day-Ahead (DA) and Real-Time (RT) markets through various financial products like Financial Transmission Rights (FTRs), virtuals, futures, and options, an approach that has positioned the company as a well-renowned, leading power trader in North American markets.

As a result of the transaction, 61C and Rivercrest will combine their complementary strengths and foster innovation and growth in the energy sector. The acquisition also supports 61C’s goals to expand its asset optimization strategy, enhance trading efficiency, and unlock new growth opportunities. 

“We’re pleased to have worked with 61C on this key acquisition,” said Deanna Reitman, the DLA Piper of counsel who led the deal team. “The addition of RiverCrest will enable 61C to create increased value and enhanced services to their clients.” 

In addition to Reitman (Houston), the DLA Piper team included partner Glenn Reitman (Houston), Frank Mugabi (New York); of counsel Michael Massiette (Dallas); and associates Darren Kerstien (Seattle), Annette Moreno and Brandon DeLano (both in Houston), Sean Newland (Phoenix) and Billy LaFortune (San Diego).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 14 consecutive years, according to Mergermarket.