Chi­ron Finan­cial LLC (“Chi­ron”) was pre­sent­ed as a final­ist for ACG’s Deal of the Year award in the util­i­ties, pow­er, and infra­struc­ture cat­e­go­ry for its Ilu­mi­nar deal, which closed last year. The Ilu­mi­nar Ener­gy LLC engage­ment served as one of Chi­ron’s top deals closed in 2021.

Ilu­mi­nar Ener­gy LLC, a pri­vate­ly-held retail elec­tric provider in ERCOT, required a quick sales from the mar­ket due to debts incurred result­ing from Win­ter Storm Uri. Chi­ron stepped up to the plate, engag­ing as both Invest­ment Banker and Finan­cial Advi­sor, and worked with Ilu­mi­nar and its major cred­i­tors to pro­vide the quick­est and best solu­tion for all parties.

Chi­ron quick­ly pre­pared Ilu­mi­nar for sale, con­tact­ing hun­dreds of poten­tial buy­ers (small and large REPs, pri­vate equi­ty, ener­gy trad­ing hous­es). The sale was com­plet­ed out­side of bank­rupt­cy process and pro­vid­ed addi­tion­al pro­ceeds for creditors.

The entire process from engage­ment to sign­ing and clos­ing was com­plet­ed in less than three weeks.

Read the full case study here.