ROTH Capital Partners advises S.M.R.E. SpA
in its sale to SolarEdge Technologies, Inc.

   

For more information please contact:

Investment Banking
Jesse Pichel
Managing Director
(646) 358-1919
jpichel@roth.com
 
Robert Stephenson
Managing Director
(949) 720-5750
rstephenson@roth.com

Marco Zhang
Analyst
(646) 358-1914
mzhang@roth.com

Transaction Information
SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, has closed the acquisition of a majority stake of S.M.R.E Spa (SMR.MI), a provider of innovative integrated powertrain technology and electronics for electric vehicles.

The initial acquisition entails a purchase from the founder and additional stockholders of approximately 57% of the outstanding shares of S.M.R.E., for an aggregate investment of approximately $85 million, in the form of approximately 1.2 million shares of SolarEdge common stock and the remainder in cash. SolarEdge intends to purchase the remaining outstanding equity shares of S.M.R.E. over time through open-market purchases and otherwise, eventually resulting in S.M.R.E. becoming a wholly-owned subsidiary of SolarEdge.

“The electrification of transportation and industrial equipment is a rapidly growing sector and the strengths of both SolarEdge and SMRE will accelerate technology development, market penetration and customer adoption. ROTH continues to focus on the intersection of renewable energy technologies, efficient power conversion, the electrification of ‘things’, and energy storage” says Jesse Pichel, Managing Director – Cleantech Investment Banking at ROTH.

ROTH Capital Partners acted as the financial advisor for MTI Holdings, a major shareholder of SMRE.

About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, and grid services solutions. For more information, please visit www.solaredge.com.
(Source: Company Press Release | 1/17/19)

About S.M.R.E. S.p.A.
Founded in 1999 and traded on the Italian AIM (SMR.MI), S.M.R.E. has three business units: e-mobility, automated production machines and telematics software. The company has more than fifteen years of experience developing end-to-end e-mobility solutions for electric and hybrid vehicles used in motorcycles, commercial vehicles and trucks. These solutions include innovative high-performing powertrains with e-motor, motor drive, gearbox, battery, BMS, chargers, Vehicle Control Unit (VCU) and software for electric vehicles. For more information, please visit www.smre.it.
(Source: Company Press Release  | 1/6/19)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 1/29/19

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2019.