Momentum advises Sonnenwelt GmbH, Xando Energy LLC and their shareholders on the investment by Crosslantic Capital
Crosslantic Capital, an independent growth equity investor focused on fast-growing companies, has invested a double-digit million amount in the solar specialist companies Sonnenwelt GmbH (“Sonnenwelt”) based in Langenfeld, Germany and Xando Energy Services LLC (“Xando”) based in Fort Myers, Florida.
Sonnenwelt was founded in 2019 by Jeffrey Audrey and is active in the field of sales and installation of photovoltaic systems and energy storage for private customers and SMEs. Since then, Sonnenwelt’s mission is to contribute to environmental protection and promote the production of clean energy and green electricity. Through a decentralized energy supply, Sonnenwelt also wants to enable more independence for private households. Also in 2019, Sonnenwelt’s U.S. sister company Xando Energy LLC (“Xando”) with its seat in Florida, USA was founded by Jeffrey Audrey and Spencer Havemann. Xando offers sustainable and custom-designed energy solutions in the Florida market.
Since its foundation, the companies have planned and implemented more than 2,000 solar systems with a total capacity of over 20 MWp. In 2020, Xando was awarded the “Panasonic Fastest Growing Installer of the Year Award” and – like Sonnenwelt – has achieved annual sales growth of between 70% and 120% since then. In addition, the reputable US solar data platform “Ohm Analytics” named Xando as one of the fastest growing solar companies in the US.
The founder of Sonnenwelt and Xando, Jeffrey Audrey was managing director and co-shareholder of the direct sales specialist Ranger Marketing from 1999 to 2013, the majority of which was sold to Waterland Private Equity in 2010. After successfully growing the business to over 1 million customer contacts per month, Waterland Private Equity sold its stake in Ranger Marketing Group to leading German media company Ströer in 2017.
Crosslantic Capital Management GmbH (“Crosslantic”) is a leading growth equity firm that focuses on investing in fast-growing tech companies. With extensive operational, strategic and industry experience, Crosslantic supports its portfolio companies on their path to market leadership.
Going forward, both companies plan to develop new market segments and further accelerate growth: The company’s own product range is further to be expanded to include heat pumps and infrared heating systems, offering customers the opportunity to put together a holistic service package in the field of green energy supply.
Momentum provided comprehensive legal and tax advice to Sonnenwelt and Xando as well as their Shareholders with the following Team:
Dr. Daniel Wied (Partner, M&A/PE)
Dr. Philipp Gold (Partner, M&A/Tax)
Sarah Kaspar (Associate, M&A/PE)
Momentum involved Dr. Peter Mayer (Stairs Dillenbeck Finley Mayer, NYC) for the legal aspects of the transaction in the US.
Crosslantic was advised by Renzenbrink & Partner, Hamburg (Dr. Andreas Stoll and Eike Rabenberg, both M&A/PE), King & Spalding, London/Frankfurt (John Taylor and Axel Schilder, both Tax) and Barnes & Thornburg, Chicago (Tan Le, Timo Rehbock, Dr. Amit Datta, all M&A/PE).
Momentum is a boutique law firm specializing in transactions and advising in the areas of M&A, private equity, venture capital, corporate law and tax law – entrepreneurial, efficient, with experience and highest quality standards.