Marathon Capital

Marathon Capital is an independent investment bank delivering financial advice to the global energy and infrastructure markets. Marathon Capital specializes in the sale and financing of companies, portfolios and assets within these markets.

Marathon Capital
TypePrivate Company
Industryinvestment banking
Financial Services
Founded1999
Founders
  • Ted Brandt (CEO)
  • Gregg Elesh
HeadquartersChicago (Bannockburn)
ServicesInvestment Banking

Marathon Capital, founded in 1999, is privately held. Investment banking is conducted through wholly owned subsidiary Marathon Capital Markets, LLC and regulated by the Financial Industry Regulatory Authority (FINRA) in the United States and by the Ontario Securities Commission (OSC) in Canada where the firm operates as an Exempt Market Dealer.

Marathon Capital employs 27 investment bankers in the areas of renewable energy, mergers, acquisitions, restructuring, project finance and capital raisings.

The firm has offices in Chicago, New York City, and San Francisco.

History

In 1999, Ted Brandt and Gregg Elesh co-founded Marathon Capital.[1] Brandt serves as the CEO.[2] Both have backgrounds in commercial finance, leasing, and structured finance. During 2001, Marathon Capital began its focus on alternative energy. The firm competes with “bulge bracket” firms for its engagements. Marathon Capital periodically acts as a co-manager with other investment banks to facilitate client transactions. Marathon Capital has been involved in several high-profile wind power mandates from American Wind Capital Corporation (USA), Suzlon Wind Energy Corporation (USA), EchoFirst (USA), SkyPower Corp. (Canada), Allco Finance Group (Australia) and Greenlight Energy (USA).

Clients

Marathon Capital's clients include developers, independent power producers, utilities, government entities, oil and gas companies and energy service providers focused on buying, selling, capitalizing, leveraging and/or restructuring a specific situation, company, project or asset. Marathon Capital has completed transactions involving district energy, cogeneration, geothermal power, wind power, solar power, landfill gas, demand-side energy conservation and has interest in additional transactions focusing on alternative fuel and chemicals, biomass power, energy management system, fuel cell, hydro, and energy-efficiency.

The firm handled the transactions for the following clients: American Wind Capital Company's sale of company and portfolio to Hannon Armstrong;[3] Suzlon's sale of 240MW Big Sky Wind Farm to EverPower,[4] the restructuring and sale of Middlesex Generation to General Electric (landfill gas to electric); Steamboat II/III to Ormat Technologies (Geothermal); the sale of Greenlight Energy to BP plc (Wind),[5] AMP Resources to Enel (Geothermal),[6][7][8][9] CPV Wind to Iberdrola (Wind),[10] SkyPower Corp. to Lehman Brothers (Wind and Solar)[11][12] and Ridgeline Energy to Veolia Environment (Wind). The sale of the project by Allco Finance Group generated cash proceeds of A$346 million.[13]

References
  1. "Sourcing Power in the Energy Markets". The University of Chicago Booth School of Business. Retrieved 2020-10-14.
  2. "Interview: Ted Brandt, CEO, Marathon Capital | EuromoneySeminars". www.euromoneyseminars.com. Retrieved 2020-10-14.
  3. "Marathon Capital Advises American Wind Capital Company on Sale of Portfolio and Company". prnewswire.com. PR Newswire. Retrieved 29 May 2014.
  4. "Suzlon Announces Sale of 240 MW Big Sky Wind Farm to EverPower" (PDF). suzlon.com. Suzlon. Retrieved 8 April 2014.
  5. ; SNL Financial
  6. ; PRWeb
  7. "Archived copy". Archived from the original on 2011-09-10. Retrieved 2009-03-27.CS1 maint: archived copy as title (link); Biz Toolbelt
  8. Archived 2008-12-01 at the Wayback Machine; Milbank
  9. ; HCP
  10. "Archived copy" (PDF). Archived from the original (PDF) on 2011-07-13. Retrieved 2009-12-07.CS1 maint: archived copy as title (link); Power Finance & Risk
  11. "Archived copy" (PDF). Archived from the original (PDF) on 2011-07-13. Retrieved 2009-12-07.CS1 maint: archived copy as title (link); Power Finance & Risk
  12. ; Quantum Leap
  13. Allco Finance
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