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Case Studies

Iluminar Energy LLC


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  • Ilu­mi­nar Ener­gy LLC (the Com­pa­ny”), a pri­vate­ly held retail elec­tric provider in ERCOT, required a quick sale from the mar­ket due to debts incurred result­ing from Win­ter Storm Uri
  • Chi­ron engaged as both Invest­ment Banker and Finan­cial Advisor
  • Chi­ron worked with Ilu­mi­nar and its major cred­i­tors to pro­vide the quick­est and best solu­tion for all par­ties via an expe­dit­ed sale of the Company
  • Chi­ron pre­pared the Com­pa­ny for sale and con­tact­ed hun­dreds of poten­tial buy­ers (small and large REPs, pri­vate equi­ty, ener­gy trad­ing houses)
  • Key buy­ers were assessed quick­ly and were walked through details of the Company’s busi­ness by the Chi­ron team


  • Expe­dit­ed sales process led to sev­er­al expres­sions of inter­est from key large retail elec­tric providers
  • Cre­at­ed auc­tion dynam­ic in expe­dit­ed time frame and final accept­ed bid was 3x larg­er than ini­tial indications
  • Even­tu­al buy­er cho­sen based on their over­all val­ue and struc­ture of the deal
  • Sale com­plet­ed out­side of bank­rupt­cy process and pro­vid­ed addi­tion­al pro­ceeds for creditors
  • Entire process com­plet­ed in less than three weeks, from engage­ment to sign­ing & closing
  • Chi­ron used its deep bench of pow­er and ERCOT & PUCT exper­tise to pro­vide the best out­come while max­i­miz­ing value

Weil enjoyed work­ing with Chi­ron Finan­cial as sole Finan­cial Advi­sor and Invest­ment Banker to Ilu­mi­nar on its sale to JP Ener­gy Resources, dba Ampra Ener­gy. The Chi­ron team was pro­fes­sion­al and respon­sive dur­ing a dif­fi­cult and time-sen­si­­tive trans­ac­tion.” — Robert Lemons, Part­ner at Weil, Got­shal & Manges LLP

Iluminar logo

The Challenge

Iluminar Energy LLC (the “Company”), a privately held retail electric provider in ERCOT, required a quick sale from the market due to debts incurred resulting from Winter Storm Uri.

The Chiron Solution

Chiron prepared the Company for sale and contacted hundreds of potential buyers (small and large REPs, private equity, energy trading houses).

The Result

Chiron used its deep bench of power and ERCOT & PUCT expertise to provide the best outcome while maximizing value.

Is your com­pa­ny per­form­ing like it should?