Fenwick represented Ojjo, Inc., a U.S.-based renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation, in its acquisition by Nextracker (NASDAQ: NXT), a global provider of intelligent solar tracker and software solutions. The acquisition was an all-cash transaction for approximately $119 million. The purchase price is subject to working capital and other customary purchase price adjustments.
Combining Nextracker’s industry-leading smart solar tracker system with Ojjo’s foundation technology will enable engineering procurement construction companies (EPCs) and solar power plant developers to benefit from a more complete, integrated solution for various soil conditions when developing, designing and installing their projects. More information can be obtained from the news announcement.
The Fenwick transaction team included corporate partner Bomi Lee and associates Matt Reiser, Christina Scully and Olga Baranoff; technology transactions partner Rufus Pichler, counsel Cara Ann Rydbeck, associates Sarah Meyers and Sam Dodson and advisor Sandra Weustink; executive compensation and employee benefits partner Matt Cantor and associates Christophe Delrieu and Elizabeth Fu; and tax partner Mike Knobler and associate Einav Axler.